SenesTech to issue series C preferred stock as common stock dividend

Chicago, Aug. 26 – SenesTech, Inc. will issue a dividend to its common stockholders of newly designated series C preferred stock, according to a press release.

The company has a current market cap of $6.77 million.

For each share of common stock held, shareholders will receive one one-thousandth of a share of newly designated preferred stock, par value $0.001 per share.

The record date is Sept. 5.

The new preferred stock will be uncertified and may only be transferred with shares of common stock.

The preferred stock will automatically be redeemed if the holder is not represented at any meeting held to vote to reclassify the company’s common stock into a smaller number of shares at a ratio to be specified.

Otherwise, the preferred stock will be perpetual.

There will be no dividends, but there will be voting rights.

SenesTech is a Phoenix-based rodent fertility control company.

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