Leisure Acquisition (LACQ) Enters Into Merger Agreement For Business Combination With Ensysce Biosciences, Inc.
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Leisure Acquisition Corp. Enters Into Merger Agreement For Business Combination With Ensysce Biosciences, Inc.
February 1, 2021 8:00 AM ESTNEW YORK and SAN DIEGO, Feb. 1, 2021 /PRNewswire/ -- Leisure Acquisition Corp. ("Leisure") (NASDAQ: LACQ, LACQU, LACQW), a special purpose acquisition company formed for the purpose of effecting a merger, acquisition or similar business combination, announced today that it has entered into a definitive agreement to acquire Ensysce Biosciences, Inc. (together with its affiliated entities, "Ensysce" or the "Company"). The transaction reflects an enterprise valuation for Ensysce of $207 million, including the Company's existing convertible indebtedness, but excluding transaction expenses as well as the impact of Leisure's sponsor shares and subject to certain closing adjustments.  Â
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