Ensysce Biosciences, Inc. (ENSC) Form S-3 — Oct 23, 2026
Ensysce Biosciences filed an S-3 registering up to 433,907,000 shares of common stock for resale by selling securityholders, issuable upon conversion of Series C preferred stock issued in connection with the August 5, 2026 acquisition of Cy Biopharma and a concurrent ~$43 million PIPE. That share count is roughly 2,230% of the 19.46 million shares currently outstanding, representing one of the largest dilution overhangs relative to float possible.
Key figures
- Offering Price
- 0.5029
- Shares Offered
- 433907000
- Shares Outstanding
- 19456794
- Lockup days
- 180
- Oata shares
- 7183000
- Pipe shares
- 120260000
- Merger shares
- 282122000
- Milestone shares
- 22166000
- Pipe gross proceeds
- $43 million
- Registration expenses
- 119347
- Last sale price 2026 10 19
- 0.5029
- Preferred conversion ratio
- 1,000:1
- Manufacture agreement shares
- 2176000
- Nasdaq min bid price required
- 4
- Dilution percent of outstanding
- 2230
- Total shares if fully converted
- 453363794
- Preferred price initial tranche per common
- 0.32179
- Preferred price milestone tranche per common
- 0.40224
AI analysis
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