other material
confidence high
sentiment neutral
materiality 0.65
Ensysce raises $2.2M via warrant exercise inducement; issues new warrants for 1.26M shares
Ensysce Biosciences, Inc.
- Holders exercised 630,376 warrants at $3.24/share for cash; gross proceeds ~$2.2M before fees.
- Company issued new unregistered warrants to purchase 1,260,752 shares at $1.90, split 18-month and 5-year terms.
- Net proceeds ~$1.9M to fund TAAP and MPAR programs and working capital.
- H.C. Wainwright acted as placement agent; received 7% cash fee and 44,126 agent warrants at $4.05.
- New warrants include 4.99% beneficial ownership limitation (9.99% at holder election).