Ensysce Biosciences has entered into definitive agreements to raise $5M through a registered direct offering and warrant exercise. The company will issue 3,553,194 shares at $0.47 per share and allow exercise of existing warrants for 7,203,504 shares at a reduced price of $0.47, down from $1.06.In a concurrent private placement, the company will issue Series A-3 and A-4 unregistered warrants to purchase up to 28.7M shares at $0.47 per share, exercisable upon stockholder approval. The Series A-3 warrants have an 18-month term while Series A-4 warrants extend for 5 years.The proceeds will support development of TAAP and MPAR programs, complementing a recent $14M NIH grant for PF614-MPAR development. H.C. Wainwright & Co. serves as exclusive placement agent, with closing expected around August 29, 2024.

Ensysce Biosciences has entered into definitive agreements to raise $5M through a registered direct offering and warrant exercise. The company will issue 3,553,194 shares at $0.47 per share and allow exercise of existing warrants for 7,203,504 shares at a reduced price of $0.47, down from $1.06.In a concurrent private placement, the company will issue Series A-3 and A-4 unregistered warrants to purchase up to 28.7M shares at $0.47 per share, exercisable upon stockholder approval. The Series A-3 warrants have an 18-month term while Series A-4 warrants extend for 5 years.The proceeds will support development of TAAP and MPAR programs, complementing a recent $14M NIH grant for PF614-MPAR development. H.C. Wainwright & Co. serves as exclusive placement agent, with closing expected around August 29, 2024.