Bob G. Gower - Jun 30, 2021 Form 4 Insider Report for Ensysce Biosciences, Inc. (ENSC)

Role: Director, 10%+ Owner
Signature: /s/ Bob G. Gower
Stock symbol: ENSC
Transactions as of: Jun 30, 2021
Transactions value $: $0
Form type: 4
Date filed: 7/2/2021, 06:15 PM
Next filing: Feb 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ENSC	Common Stock	Award		+7.92M			7.92M	Jun 30, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ENSC	Stock Option	Award		+6.59K			6.59K	Jun 30, 2021	Common Stock	6.59K	$2.59	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On June 30, 2021, pursuant to that certain Agreement and Plan of Merger dated January 31, 2021 (the "Merger Agreement") among Ensysce Biosciences, Inc. (f/k/a Leisure Acquisition Corp.) (the "Issuer"), EB Merger Sub, Inc., a Delaware corporation and wholly-owned, direct subsidiary of the Issuer ("Merger Sub"), and Ensysce Biosciences, Inc., a Delaware corporation ("Ensysce"), Merger Sub merged with and into Ensysce (the "Merger"), with Ensysce surviving as a wholly owned subsidiary of the Issuer. Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of Ensysce common stock was automatically converted into the right to receive a pro rata portion of 17,334,518 shares of the Issuer's common stock.
F2	Pursuant to the Merger Agreement, each option and warrant of Ensysce that was outstanding and unexercised immediately prior to the Effective Time was assumed by the Issuer (each, a "Derivative Security") and represents the right to acquire an adjusted number of shares of Common Stock at an adjusted exercise price, in each case, pursuant to the terms of the Merger Agreement.

Content

On June 30, 2021, pursuant to that certain Agreement and Plan of Merger dated January 31, 2021 (the "Merger Agreement") among Ensysce Biosciences, Inc. (f/k/a Leisure Acquisition Corp.) (the "Issuer"), EB Merger Sub, Inc., a Delaware corporation and wholly-owned, direct subsidiary of the Issuer ("Merger Sub"), and Ensysce Biosciences, Inc., a Delaware corporation ("Ensysce"), Merger Sub merged with and into Ensysce (the "Merger"), with Ensysce surviving as a wholly owned subsidiary of the Issuer. Pursuant to the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of Ensysce common stock was automatically converted into the right to receive a pro rata portion of 17,334,518 shares of the Issuer's common stock.

Pursuant to the Merger Agreement, each option and warrant of Ensysce that was outstanding and unexercised immediately prior to the Effective Time was assumed by the Issuer (each, a "Derivative Security") and represents the right to acquire an adjusted number of shares of Common Stock at an adjusted exercise price, in each case, pursuant to the terms of the Merger Agreement.