Business
Ensysce Biosciences, Inc. Announces $1.1 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
SAN DIEGO, CA / ACCESS Newswire / March 31, 2025 / Ensysce Biosciences, Inc. (NASDAQ:ENSC) ("Ensysce" or the "Company"), a clinical-stage pharmaceutical company developing innovative solutions for severe pain relief while reducing the potential for ...
About this update from Ensysce Biosciences, Inc.
[{"type":"text","content":"SAN DIEGO, CA / ACCESS Newswire / March 31, 2025 / Ensysce Biosciences, Inc. (NASDAQ:ENSC) ("Ensysce" or the "Company"), a clinical-stage pharmaceutical company developing innovative solutions for severe pain relief while reducing the potential for opioid abuse and overdose, today announced that it has entered into definitive agreements, providing the Company with an aggregate gross proceeds of approximately $1.1 million, for the issuance and sale of an aggregate of 315,188 of its shares of common stock (or common stock equivalents in lieu thereof) at a purchase price of $3.49 per share (or common stock equivalent in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company has also agreed to issue and sell unregistered Series A-5 warrants to purchase up to an aggregate of 315,188 shares of common stock and unregistered Series A-6 warrants to purchase up to an aggregate of 315,188 shares of common stock. The Series A-5 warrants and the Series A-6 warrants will have an exercise price of $3.24 per share and will be exercisable immediately upon issuance. The Series A-5 warrants will have a term of eighteen months from the date of issuance and the Series A-6 warrants will have a term of five years from the date of issuance. The offering is expected to close on or about March 31, 2025, subject to the satisfaction of customary closing conditions.","length":1458,"tagName":"p"},{"type":"text","content":"H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.","length":86,"tagName":"p"},{"type":"text","content":"The gross proceeds to the Company from the offering are expected to be approximately $1.1 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering for continued development of its TAAPTM and MPAR® programs and for working capital.","length":354,"tagName":"p"},{"type":"text","content":"The securities offered in the registered direct offering (but excluding the unregistered warrants offered in the concurrent private placement and the shares of common stock underlying such unregistered warrants) are being offered and sold by the Company pursuant to a "shelf" registration state...