Senesco redeems all outstanding YA Global notes and series A warrants

By Susanna Moon

Chicago, March 4 - Senesco Technologies, Inc. announced the redemption of all outstanding convertible debentures and series A warrants held by YA Global Investments, LP.

Senesco paid $2,194,845 for the notes and warrants using funding from a recent $3 million credit facility from JMP Securities. The redemption amount included accrued interest.

"This transaction significantly improves our capital structure by eliminating the potential for approximately 16,000,000 shares of future dilution and, as with the recently completed Stanford agreement, should enable us to more easily identify suitable financing," Harlan Waksal, M.D., Senesco's chairman of the board, said in a statement.

"We are confident that we have taken the appropriate steps to enhance our attractiveness as an investment opportunity, and look forward to the continued development of SNS-01, our multiple myeloma drug candidate."

Senesco is based in New Brunswick, N.J., and develops treatments for cancer, glaucoma, ischemia and arthritis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.