Senesco raises $10.3 million

Senesco Technologies Inc. (NYSE-A:SNT) raised $10.3 million through the sale of 10,297 shares of 10% series A convertible preferred stock to investors, including Chairman Harlan Waksal. The shares convert into 32.2 million common shares at $0.32, which is a 20% discount to Senesco's close of $0.40 on Friday, the last trading day before the deal was announced. Investors also received five-year warrants to purchase 32.2 million shares initially at $0.35. Ladenburg Thalmann was placement agent.

Senesco plans to raise up to an additional $1.2 million through the placement of convertible preferred stock on the same terms. The additional offering is subject to shareholder approval at a meeting in mid-May. Senesco was up a penny to $0.41 on Monday. ...