Senesco Technologies Inc., of Bridgewater, announced Thursday it has entered into a securities purchase agreement with certain investors to raise up to $25.2 million in gross proceeds.
According to the announcement, the offering is expected to close Thursday, subject to customary closing conditions. The initial net offering proceeds to the Company from the sale of units consisting of shares of common stock and warrants, after deducting the estimated offering expenses payable by the company of approximately $150,000, are expected to be approximately $5.25 million. The net proceeds of the offering will be used for working capital, research and development and general corporate purposes.
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