Enveric Biosciences raises $3.1 million from warrant exercises

Enveric Biosciences Inc. (NASDAQ: ENVB) completed the exercise of warrants for approximately $3.1 million in gross proceeds, the biotechnology company announced.

The company closed the exercise of 426,390 warrants originally issued in February 2025 and September 2025 at a reduced exercise price of $7.05 per share, down from the original exercise prices of $36.00 and $10.98 per share respectively.

H.C. Wainwright & Co. served as the exclusive placement agent for the transaction. The proceeds are before deducting placement agent fees and estimated offering expenses.

In exchange for the immediate warrant exercises, Enveric issued new unregistered series E and series F warrants to purchase up to 426,390 shares each of common stock. Both new warrant series carry an exercise price of $7.05 per share and are exercisable immediately. The series E warrants will expire five years after the effective date of a resale registration statement, while the series F warrants will expire eighteen months after that date.

Warrant holders paid an additional $0.125 per new warrant, totaling $106,597.50, which was included in the gross proceeds to the company.

Enveric stated it intends to use the net proceeds for product development, working capital and general corporate purposes.

The shares issued upon exercise of the original warrants are registered under existing Form S-1 and Form S-3 registration statements. The new warrants were issued in a private placement and have not been registered under the Securities Act of 1933.

Cambridge, Massachusetts-based Enveric develops neuroplastogenic small molecules for psychiatric and neurological disorders, according to the company's press release statement.

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