Ensysce raises $4.7M via warrant exercise, issues new warrants at $1.06

Ensysce Biosciences, Inc.

Gross proceeds ~$4.7M from cash exercise of 3,601,752 existing warrants at reduced price $1.31 per share.
Issues unregistered Series A/B warrants for 7,203,504 shares at $1.06; Series A expire 18 months, Series B May 2028.
Net proceeds for Phase 3 prep of PF614, debt repayment (Oct/Nov 2023), and general corporate.
Placement agent H.C. Wainwright gets $200k fee and 252,123 warrants at $1.6375.
Waiver from Oct 2023 SPA requires full note repayment with premium post-closing.

Key facts

Extracted from this filing and checked against the source text.

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

Ensysce Biosciences, Inc. entered into Inducement Letter with certain holders valued at approximately $4.7 million (effective 2024-02-12).

Action: entry
Agreement: equity purchase
Counterparty: certain holders
Value: approximately $4.7 million
Effective: 2024-02-12

Exact text from the filing

On February 12, 2024, Ensysce Biosciences, Inc., a Delaware corporation (the “ Company ”), entered into an inducement offer letter agreement (the “ Inducement Letter ”) with certain holders (the “ Holders ”) of certain of its existing warrants to purchase up to an aggregate of 3,601,752 shares of the Company’s common stock, $0.0001 par value (the “ Common Stock ”), issued to the Holders on May 12, 2023 and having an exercise price of $3.637 per share (the “ Existing Warrants ”).

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119 material agreements filed in the last 30 days. Browse all material agreements →

Ensysce Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-006773

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