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SenesTech, Inc. (NASDAQ:SNES), a small-cap company with a market value of $8.61 million, announced Monday that it has filed a prospectus supplement to register an additional $711,227 worth of its common stock for sale under its existing at-the-market (ATM) offering program. According to InvestingPro data, the company maintains more cash than debt on its balance sheet but is quickly burning through its cash reserves. The shares will be issued pursuant to the ATM agreement with H.C. Wainwright & Co., LLC, originally dated June 20, 2024.
According to the company’s statement in a Securities and Exchange Commission filing, SenesTech has previously sold an aggregate of $2,854,827.84 of its common stock through the sales agent under this agreement. The newly registered shares represent an expansion of the company’s ability to raise capital through open market transactions.
The company also filed a legal opinion from Greenberg Traurig, LLP regarding the validity of the shares covered by the prospectus supplement as an exhibit to the filing.
SenesTech’s common stock is listed on the Nasdaq Stock Market under the ticker symbol SNES. The information is based on a press release statement included in a recent SEC filing.
In other recent news, SenesTech reported a 17% increase in revenue for the first quarter of 2025, reaching $485,000. The company’s EVOLVE product line saw a notable 40% surge in sales, now making up 79% of total sales. Gross margins improved significantly to 64.5%, up from 32.5% the previous year, resulting in a 132% increase in gross profit. The company is targeting cash flow breakeven at $1.5 million in quarterly revenue. Additionally, SenesTech has been expanding its presence in municipal markets, with new deployments in cities like Chicago and New York. The company is also increasing its international footprint, having signed distribution agreements in 12 countries. SenesTech’s focus on high-margin products and market expansion initiatives are part of its strategic growth plan.
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