Ensysce Biosciences Files For Resale of Up to 29.5 Million Shares by Investors

MT Newswires Live10-10

Ensysce Biosciences (ENSC) filed a registration statement with the US Securities and Exchange Commission on Wednesday for the resale by selling stockholders of up to about 29.5 million shares underlying series A-3 warrants, series A-4 warrants and placement agent warrants.

The A-3 warrants and A-4 warrants cover up to 14.4 million shares each with an exercise price of $0.47 per share, while up to 752,969 shares are issuable under the placement warrants, according to the filing.

The exercise of the warrants is conditional on shareholders' approval, the company added.

Ensysce said it will not receive any proceeds from the sale of shares by selling stockholders but will get proceeds from the exercise of warrants that will be used for working capital for general corporate purposes.

Shares of the company rose 2.8% in after-hours activity.

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