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

Role: 10%+ Owner
Signature: /s/ Daniel Silvers
Stock symbol: ENSC
Transactions as of: Jun 30, 2021
Transactions value $: $2,004,497
Form type: 4
Date filed: 7/1/2021, 07:50 PM
Previous filing: Jun 11, 2021
Next filing: Jan 4, 2022

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	Warrants	Award	$1.64M	+1.64M		$1.00	1.64M	Jun 30, 2021	Common Stock	1.64M	$11.50	MLCP GLL Funding LLC	F1, F2
transaction	ENSC	Warrants	Award	$367K	+367K	+22.42%	$1.00	2M	Jun 30, 2021	Common Stock	367K	$11.50	MLCP GLL Funding LLC	F2, F3
transaction	ENSC	Warrants	Disposed to Issuer	$0	-250K	-12.47%	$0.00	1.75M	Jun 30, 2021	Common Stock	250K	$11.50	MLCP GLL Funding LLC	F2, F4

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

Explanation of Responses:

Id	Content
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.
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.
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.
F4	Reflects warrants surrendered to the Issuer in connection with the Issuer's business combination pursuant to a warrant surrender agreement, for no consideration.