Ensysce Biosciences Closes $2 Million Private Placement of Series B Preferred Stock and Warrants

On April 6, 2026, Ensysce Biosciences, Inc. closed a private placement offering resulting in gross proceeds of approximately $2 million. This transaction was conducted pursuant to a Securities Purchase Agreement originally dated November 13, 2025, with an institutional investor. The company issued 2,000 shares of Series B preferred stock, which are convertible into approximately 4.36 million shares of common stock at a conversion price of $0.55 per share. Additionally, the company issued warrants to purchase up to approximately 8.73 million shares of common stock. These warrants have an exercise price of $0.55; half are exercisable for 18 months and the other half for five years. In connection with this funding, Ensysce amended its Certificate of Designation to increase the stated value of Series B Preferred Stock from $1,100 to $1,200 per share. Net proceeds of approximately $1.9 million are earmarked for general corporate purposes, specifically the continued development of the company's TAAP and MPAR programs and for working capital. The company has committed to filing a registration statement for the resale of the underlying common stock within three business days of the closing.