Ensysce Biosciences, Inc. (ENSC): debt financing — Ensysce completes $1.7M convertible note financing; second closing of $1.133M

Ensysce Biosciences, Inc.

Total gross proceeds of $1.7M from senior secured convertible notes and warrants; second closing on Nov 28/29, 2023 added $1.133M (net).
Notes convertible at $1.5675/share, 6% interest, 6-month term; monthly redemption begins 90 days after issuance.
Warrants to purchase up to 3.77M shares at $1.5675, exercisable for five years from issuance.
Proceeds to fund PF614 time of onset study and regulatory milestones.
Notes secured by all company assets and guaranteed by subsidiaries EBI OpCo and EBI.

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 convertible notes of aggregate principal amount of $1,224,000 with the investors at 6.0% per annum maturing six months from their respective date of issuance.

Instrument: convertible notes
Principal: aggregate principal amount of $1,224,000
Counterparty: the investors
Rate: 6.0% per annum
Maturity: six months from their respective date of issuance
Event: incurrence

Exact text from the filing

the Company issued to the investors referenced above, (i) Notes in the aggregate principal amount of $1,224,000 for an aggregate purchase price of $1,133,333

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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 0001493152-23-043009

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