SenesTech, which is commercializing a non-lethal rodent control chemical that lowers rat fertility, raised $15 million by offering 1,875,000 shares at $8, below the previously lowered $9 to $11 range. At this price it commands a market value of $91 million. It originally filed to raise $20 million by offering 2 million shares at the $12 to $14 range, targeting a market cap of $152 million. The stock closed up 2.0% after the first day of trading.
The Flagstaff, AZ-based company was founded in 2004 and has no revenue to date. September 30, 2016. It is listed on the Nasdaq under the symbol SNES. SenesTech filed confidentially on August 3, 2016. Roth Capital was the sole bookrunner on the deal.
