Ensysce Biosciences (ENSC) has released an update.
Ensysce Biosciences, Inc. has struck a deal with warrant holders to exercise existing warrants for 3,601,752 shares at a reduced price, in return for issuing new Series A and B warrants. The move, which aims to raise approximately $4.7 million before expenses, also includes a commitment to file a resale registration and a 90-day lock-up period with certain conditions. Additionally, the company has engaged H.C. Wainwright & Co. as the exclusive placement agent, providing them with fees and additional warrants as compensation. The company’s actions are designed to strategically strengthen its financial position and enhance shareholder value.
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