Senesco Technologies, Inc. Announces $3.0 Million Equity Financing
Published: Jan 07, 2013
BRIDGEWATER, N.J.--(BUSINESS WIRE)--Senesco Technologies, Inc. (“Senesco” or the “Company”) (OTCQB: SNTI) announced today that it has entered into a securities purchase agreement to raise approximately $3.0 million in gross proceeds through the sale of 30,000,000 shares of its common stock. The investors will also receive 100% warrant coverage at an exercise price of $0.12 per share. The common stock and 100% warrant coverage (the “Unit”) was priced at $0.10 per Unit. The offering is expected to close on or about January 8, 2013. The net proceeds of the financing will be used primarily for investor and public relations, working capital, research and development and general corporate purposes. “We are very pleased to be able to supplement our capital resources in order to advance the on-going Phase 1b/2a study and plan for the next phase,” said Leslie J. Browne, Ph.D., President and CEO of Senesco. The shares and warrants are being offered pursuant to a prospectus forming a part of the Company’s effective registration statement (File No. 333-170140) filed with the Securities and Exchange Commission (the “SEC”), a copy of which may be obtained, when available, at the SEC’s website at http://www.sec.gov.