Ensysce declares Series A Preferred dividend with 1,000 votes per 0.001 share, tied to reverse split vote

Ensysce Biosciences, Inc.

Board declares dividend of 0.001 Series A Preferred share per common share; record date Feb 13, 2023.
Each 0.001 of a share carries 1,000 votes; voting limited exclusively to reverse split and adjournment proposals.
Preferred shares are non-transferable except with common; automatically redeemed if not voted at the meeting.
Liquidation preference of $0.0001 per share; no dividend or conversion rights; filing of Certificate of Designation.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Ensysce Biosciences, Inc.: Creation of Series A Preferred Stock via a dividend declared on January 31, 2023, effective upon filing of a Certificate of Designation (effective 2023-01-31).

Change: charter amendment
Effective: 2023-01-31

Exact text from the filing

On January 31, 2023, the Board of Directors (the “Board”) of Ensysce Biosciences Inc. (the “Company”) declared a dividend of 0.001 of a share of Series A Preferred Stock, par value $0.0001 per share (“Series A Preferred Stock”), for each outstanding share of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) to stockholders of record at 5:00 pm Eastern Time on February 13, 2023 (the “Record Date”).

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Source: SEC EDGAR

accession 0001493152-23-003270

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