NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Senesco Technologies, Inc. (“Senesco” or the “Company”) (AMEX:SNT) today announced that on October 10, 2006 it entered into a definitive purchase agreement for the issuance and sale of 1,986,306 shares of its common stock at the closing price of the common stock as of October 9, 2006, expecting to raise approximately $2.3 million in gross proceeds. Approximately $1.5 million of the private placement will be invested by certain members of the Company’s Board of Directors, with the balance from certain institutional and accredited investors. In connection with their participation in the private placement, these investors will receive warrants to purchase 993,153 shares of common stock with an exercise price equal to 110% of the common stock purchase price. In connection with this private placement, Senesco has agreed to file a registration statement on Form S-3 by November 10, 2006 to register the shares of common stock and the shares underlying the warrants. The private placement is expected to close on or about today.
