Ensysce Biosciences down 12%, prices $7M offering
- Ensysce Biosciences (NASDAQ:ENSC) prices offering of ~1.8M shares and warrants at a combined public offering price of $3.887 per share (or pre-funded warrant in lieu thereof) and accompanying warrants.
- The closing of the offering is expected to occur on or about May 12, 2023.
- Gross proceeds is $7M.
- Net proceeds will be deployed for clinical development of their product candidates and for working capital and other general corporate purposes.
- Stock price declined 12% during pre-market.