Ensysce Biosciences Secures $1.7M Convertible Note Financing
Portfolio Pulse from Happy Mohamed
Ensysce Biosciences (NASDAQ:ENSC)(OTC:ENSCW) has secured $1.7 million in convertible note financing. The funds will be used to advance the clinical development of the company's TAAP and MPAR technologies. The notes are convertible into shares of Ensysce common stock at a conversion price of $1.5675 and have a maturity date of 6 months from the closing date.
October 24, 2023 | 12:25 pm
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NEUTRAL IMPACT
Ensysce Biosciences has secured $1.7 million in convertible note financing. This could potentially dilute the value of existing shares, but also provides the company with additional capital for development.
The financing provides Ensysce with additional capital, which is positive. However, the convertible notes can be converted into common stock, potentially diluting the value of existing shares. The net impact is uncertain, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Ensysce Biosciences has secured $1.7 million in convertible note financing. This could potentially dilute the value of existing shares, but also provides the company with additional capital for development.
The financing provides Ensysce with additional capital, which is positive. However, the convertible notes can be converted into common stock, potentially diluting the value of existing shares. The net impact is uncertain, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100