Daniel B. Silvers - 30 Jun 2021 Form 4 Insider Report for Ensysce Biosciences, Inc. (ENSC)

Reporting relationship: 10%+ Owner
Issuer ticker: ENSC
Reported as of: 30 Jun 2021
Net transaction value: +$2,004,497
SEC form: 4
Accepted by SEC: 01 Jul 2021, 19:50:59 UTC
Prior SEC filing: 11 Jun 2021
Next SEC filing: 04 Jan 2022
Source filing: View source filing
Reporting owner signature: /s/ Daniel Silvers

Key filing fact

Daniel B. Silvers filed Form 4 for Ensysce Biosciences, Inc. (ENSC) on 01 Jul 2021.

Key facts

This page summarizes Daniel B. Silvers's Form 4 filing for Ensysce Biosciences, Inc. (ENSC).
3 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 01 Jul 2021, 19:50.

Change

Previous filing in this sequence was filed on 11 Jun 2021.
Current net transaction value: +$2,004,497.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ENSC transaction Derivative

Warrants

Award

Transaction value: $1,637,390
Shares: +1,637,390
Change %
Price: $1.00
Shares after: 1,637,390
Date: 30 Jun 2021
Ownership: MLCP GLL Funding LLC
Underlying class: Common Stock
Underlying amount: 1,637,390
Exercise price: $11.50
Footnotes: F1, F2

ENSC transaction Derivative

Warrants

Award

Transaction value: $367,107
Shares: +367,107
Change %: +22%
Price: $1.00
Shares after: 2,004,497
Date: 30 Jun 2021
Ownership: MLCP GLL Funding LLC
Underlying class: Common Stock
Underlying amount: 367,107
Exercise price: $11.50
Footnotes: F2, F3

ENSC transaction Derivative

Warrants

Disposed to Issuer

Transaction value: $0
Shares: -250,000
Change %: -12%
Price: $0.000000
Shares after: 1,754,497
Date: 30 Jun 2021
Ownership: MLCP GLL Funding LLC
Underlying class: Common Stock
Underlying amount: 250,000
Exercise price: $11.50
Footnotes: F2, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Reflects warrants of Ensysce Biosciences, Inc., formerly known as Leisure Acquisition Corp. (the "Issuer"), which were acquired from the Issuer at a price of $1.00 per warrant in a private placement that closed simultaneously with the closing of the Issuer's initial public offering which were later exchanged for warrants having the same terms, except that they are non-transferable other than to permitted transferees. Pursuant to the terms of the issuance, such warrants were not eligible to become exercisable unless the Issuer consummated its initial business combination which occurred on June 30, 2021. Mr. Silvers served as the Issuer's Chief Executive Officer and Director until the closing of the business combination.

Footnote F2

Matthews Lane Capital Partners LLC, a sponsor of the Issuer, is the manager of MLCP GLL Funding LLC, the record holder of the warrants. Mr. Silvers is the managing member of Matthews Lane Capital Partners LLC and disclaims beneficial ownership with respect to the securities except to the extent of his pecuniary interest therein.

Footnote F3

Reflects warrants acquired at a price of $1.00 per warrant upon the conversion of promissory notes of the Issuer reflecting amounts loaned to the Issuer pursuant to the Issuer's expense advancement agreement, which were convertible into warrants at the holder's option. The warrants are on the same terms as the warrants described in note (1) above.

Footnote F4

Reflects warrants surrendered to the Issuer in connection with the Issuer's business combination pursuant to a warrant surrender agreement, for no consideration.