Ensysce closes $2M preferred stock financing from prior $20M commitment; conversion price $0.55

Ensysce Biosciences, Inc.

Gross proceeds of $2M from second tranche under November 2025 agreement; net ~$1.9M for TAAP and MPAR programs and working capital.
Conversion price fixed at $0.55 per share; warrants with 100% coverage (18-month and 5-year terms) at $0.55 exercise price.
Amended Series B preferred stated value from $1,100 to $1,200 per share and issued 8,727,273 warrants.
CEO Lynn Kirkpatrick states financing reflects continued investor confidence in the company's analgesic programs.
Financing is part of up to $20M commitment available over 24 months from institutional investor.

item 1.01 item 3.02 item 8.01 item 9.01

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