SenesTech Announces Reverse Stock Split
Retrieved on:
Tuesday, November 15, 2022
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PHOENIX, Nov. 15, 2022 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES, "SenesTech" or the "Company") (www.senestech.com) the rodent fertility control experts and inventors of the only EPA registered contraceptive for male and female rats, ContraPest®, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 20 pre-split shares. The reverse stock split will become effective at 11:59 p.m, Eastern Time, on November 15, 2022. The Company's common stock will continue to be traded on the Nasdaq Capital Market under the symbol "SNES" and will begin trading on a split-adjusted basis when the market opens on November 16, 2022.
Key Points:
- It is not necessary for stockholders holding shares of the Company's common stock in certificated form to exchange their existing stock certificates for new stock certificates of the Company in connection with the reverse stock split, although stockholders may do so if they wish.
- The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share.
- The reverse stock split will reduce the number of shares of the Company's common stock outstanding from 12,212,950 shares to approximately 610,648 shares.
- Such forward-looking statements include, among others, the expected timing of the reverse stock split and number of shares outstanding after the reverse stock split.