secwatch.observer — SEC 8-K summary
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Issuer:     Ensysce Biosciences, Inc. (ENSC)
CIK:        0001716947
Form:       8-K
Filed at:   2023-01-13T23:59:59+00:00
Accession:  0001493152-23-001345
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1716947/000149315223001345/0001493152-23-001345-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1716947/000149315223001345/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-001345

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