---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-001345"
form_type: "8-K"
ticker: "ENSC"
cik: "0001716947"
company_name: "Ensysce Biosciences, Inc."
filed_at: "2023-01-13T23:59:59+00:00"
generated_at: "2026-06-20T15:22:29.906188+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Ensysce amends convertible note terms; lowers conversion price to $0.7512

## Summary
- Conversion price on remaining $3.34M notes cut from $2.006 to $0.7512 for Jan 12–May 12, 2023.
- Company must use best efforts to register additional shares for conversions if registered shares are insufficient.
- Accelerations allowed on four conversion notices per month during the period, up from two.
- Warrant exercise price unchanged; 466,788 warrants outstanding after October 2022 reverse split.
- New conversion price meets Nasdaq's minimum price rule, avoiding stockholder vote requirement.

## SEC filing metadata
- accession: 0001493152-23-001345
- form_type: 8-K
- ticker: ENSC
- cik: 0001716947
- company_name: Ensysce Biosciences, Inc.
- filed_at: 2023-01-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1716947/000149315223001345/0001493152-23-001345-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1716947/000149315223001345/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-001345
- JSON: https://secwatch.observer/filing/0001493152-23-001345.json
- Plain text: https://secwatch.observer/filing/0001493152-23-001345.txt

## Key facts
- Debt Financings
  Ensysce Biosciences, Inc. amended senior notes of remaining balance of $3,339,931.
  - Instrument: senior notes
  - Principal: remaining balance of $3,339,931
  - Event: amendment
  source text: upon conversion of the Notes if exceeding those shares already registered on a Form S-3 that was declared effective on December 29, 2022. The remaining balance of the Notes was $3,339,931 as of the date of the Letter Agreement. Following the Period, the prior conversion price of $2.006 will apply. In addition, the parties have agreed that to the extent the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1716947/000149315223001345/0001493152-23-001345-index.htm
- Material Agreements
  Ensysce Biosciences, Inc. amended Letter Agreement with institutional investors (effective 2023-01-12).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: institutional investors
  - Effective: 2023-01-12
  source text: On January 12, 2023, the parties to the SPA agreed to a Letter Agreement amending the SPA ("Letter Agreement") to take certain actions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1716947/000149315223001345/0001493152-23-001345-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.