Ensysce Biosciences, Inc. Files Request For Withdrawal FormRW With SEC Relating To The Registration Statement On Form S-3
Portfolio Pulse from Benzinga Newsdesk
Ensysce Biosciences, Inc. has filed a request with the SEC to withdraw its previously filed Registration Statement on Form S-3. The company had initially filed the statement for the resale of shares by selling securityholders, but no shares were sold under this registration. A reverse stock split reduced the number of shares covered, and a subsequent public offering increased the number of shares outstanding. The company repaid in full the convertible note and other amounts owed with cash, making the registration for resale unnecessary. Ensysce is requesting that the fees paid for the filing be credited for future use.
November 30, 2023 | 7:42 pm
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Ensysce Biosciences has applied to withdraw its Form S-3 Registration Statement, indicating no current need to facilitate the resale of shares by securityholders. The company has also repaid debts in cash, which may reflect a stronger financial position.
The withdrawal of the registration statement could be seen positively by investors as it suggests that the company has managed to reduce its share count through a reverse stock split and has enough cash to repay debts without issuing new shares. This could be interpreted as a sign of financial stability and prudent management, potentially leading to a short-term positive impact on the stock price.
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