Senetek amends terms of $3 million 0% convertible note held by DMRJ

Conversion price is reduced to $0.70 per share from $1.25 per share

By Devika Patel

Knoxville, Tenn., Nov. 15 - Senetek plc amended the terms of its $3 million 0% secured convertible promissory note on Nov. 9, according to an 8-K filed Monday with the Securities and Exchange Commission. DMRJ Group, LLC bought the note in a March private placement.

The note's conversion price was reduced to $0.70 per share. The five-year note was initially convertible into common shares at $1.25 per share.

The company's American Depositary Receipts (OTCBB: SNKTY) closed at $0.90 on Nov. 8.

Senetek, based in Napa, Calif., develops dermatological and skincare products focused on anti-aging products.

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