Ensysce Biosciences amends Series C preferred terms, removes holder cash redemption right
ENSC•Ensysce Biosciences amended its Series C preferred stock terms on Sept. 25, 2026, removing a holder’s right to demand cash redemption tied to failed share delivery.
1. Redemption provision removed
The amendment to the certificate of designation eliminated a provision allowing holders to demand cash redemption at any time after shareholder approval for conversion into common stock under Nasdaq rules. Redemption had been priced at the then-current fair value of the preferred shares, and the amendment took effect upon filing.
