Enveric Biosciences raises $3.1 million through warrant exercise

Enveric Biosciences Inc. (NASDAQ: ENVB) announced it entered into agreements for the immediate exercise of warrants to purchase 426,390 shares at a reduced price of $7.05 per share, generating approximately $3.1 million in gross proceeds.

The warrants were originally issued in February and September 2025 with exercise prices of $36.00 and $10.98 per share respectively. H.C. Wainwright & Co. is serving as the exclusive placement agent for the transaction.

As part of the agreement, warrant holders paid an additional $0.125 per new warrant, contributing $106,597.50 to the total proceeds. In exchange, the company will issue new Series E and Series F warrants, each covering 426,390 shares with exercise prices of $7.05 per share.

The Series E warrants will expire five years after the effective date of a resale registration statement, while Series F warrants will expire eighteen months after that date. Both warrant series will be exercisable immediately.

The transaction is expected to close on or about December 12, 2025, subject to customary closing conditions. The company stated it intends to use net proceeds for product development, working capital and general corporate purposes.

The new warrants were offered through a private placement exempt from Securities Act registration requirements. Enveric has agreed to file a registration statement with the SEC covering the resale of shares issuable upon exercise of the new warrants.

Enveric Biosciences develops neuroplastogenic small molecules for psychiatric and neurological disorders. The company's lead candidate, EB-003, targets both 5-HT₂A and 5-HT₁B receptors for antidepressant and anxiolytic effects.

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