Ensysce Biosciences, Inc. (ENSC): debt financing — Ensysce Biosciences raises $1.7M in convertible note and warrant private placement

Ensysce Biosciences, Inc.

Aggregate investment of $1.7M through senior secured convertible notes and warrants; initial close of $566,667 on or before Oct 26.
Notes convertible at $1.5675 per share, bear 6% interest, 6-month maturity, 8% original issue discount.
Warrants to purchase up to 1,255,697 shares at $1.5675 exercisable for 5 years; second close of $1,133,333 upon SEC registration effectiveness.
Proceeds to fund clinical development of TAAP and MPAR platforms, including time-of-onset study for PF614.
Obligation to begin monthly principal and interest payments in cash or stock at holder's election after 90 days.

item 1.01 item 2.03 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Ensysce Biosciences, Inc. incurred senior notes of aggregate principal amount of $612,000 with investors at 6.0% per annum maturing six months from their respective date of issuance.

Instrument: senior notes
Principal: aggregate principal amount of $612,000
Counterparty: investors
Rate: 6.0% per annum
Maturity: six months from their respective date of issuance
Event: incurrence

Exact text from the filing

the Company will issue to the investors (i) senior secured convertible promissory notes in the aggregate principal amount of $612,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ensysce Biosciences, Inc. entered into Securities Purchase Agreement with investors valued at $1.7 million (effective 2023-10-23).

Action: entry
Agreement: equity purchase
Counterparty: investors
Value: $1.7 million
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, Ensysce Biosciences, Inc. (“Ensysce” or the “Company”) entered into a Securities Purchase Agreement (the “SPA”) for an aggregate financing of $1.7 million with investors.

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41 debt financings filed in the last 30 days. Browse all debt financings →

Ensysce Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-038049

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