SenesTech (NASDAQ:SNES) has announced that it will raise $1.42 million gross (about $1.28 net) from the sale of 3.55 million shares at $0.40 and the issuance of 3.55 million warrants at an exercise price of $0.45 that would not be registered at this time. The deal should close by the end of January 2020.
We have adjusted our estimates by adding the new shares to calculate future earnings. Since share equivalents, like warrants, are not used when calculating losses per share, only the basic share count is used, we have not included any adding any warrant conversion.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks provides and Zacks receives quarterly payments totaling a maximum fee of $30,000 annually for these services. Full Disclaimer HERE.