Item 5. Market for Registrant’s Common Equity
Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity Securities
Market
Price and Ticker Symbol
Our
common stock is currently listed on the Nasdaq Stock Market under the symbol “ENSC.” Our Public Warrants are currently listed
on the OTC Pink Open Market under the symbol “ENSCW.”
The
closing price of our common stock and Public Warrants on March 25, 2022, was $1.13 and $0.15, respectively.
Holders
As of March 25, 2022, there
were approximately 161 holders of record of our common stock, one holder of record of the Public Warrants, eight holders of record
of the LACQ private warrants, one holder of the GEM Warrants, and three holders of record of 2021 Notes warrants.
Such
numbers do not include beneficial owners holding our securities through nominee names.
Dividends
We
have not paid any cash dividends on our common stock to date. We may retain future earnings, if any, for future operations, expansion
and debt repayment and has no current plans to pay cash dividends for the foreseeable future. Any decision to declare and pay dividends
in the future will be made at the discretion of the Board and will depend on, among other things, our results of operations, financial
condition, cash requirements, contractual restrictions and other factors that the Board may deem relevant. In addition, our ability to
pay dividends may be limited by covenants of any existing and future outstanding indebtedness we or our subsidiaries incur. We do not
anticipate declaring any cash dividends to holders of our common stock in the foreseeable future.
Recent
Sales of Unregistered Securities and Use of Proceeds
We
entered into an Investor Relations Consulting Agreement with MZHCI, LLC on December 20, 2021, through which we receive ongoing stock
market support services and other consulting services. Pursuant to that agreement, we pay a monthly fee and we issued 50,000 unregistered
shares of our common stock in February 2022. The issuance of our shares was exempt from registration under Section 4(a)(2) of
the Securities Act as it was a private transaction between MZHCI, LLC and us. We received no proceeds in connection with our issuance
of those 50,000 shares.
On September 24, 2021, we entered
into the SPA for an aggregate financing of $15.0 million with institutional investors. A first closing under the SPA for $5 million
occurred on September 24, 2021 and a second closing under the SPA occurred on November 5, 2021. At the first closing, the Company issued
to the investors (i) senior secured convertible promissory notes in the aggregate principal amount of $5.3 million for an aggregate purchase
price of $5.0 million and (ii) warrants to purchase 361,158 shares of the Company’s common stock in the aggregate at
an exercise price of $7.63 per share. At the second closing, the Company issued to the institutional investors referenced above,
(i) senior secured convertible promissory notes in the aggregate principal amount of $10.6 million for an aggregate purchase price of
$10.0 million and (ii) warrants to purchase 722,317 shares of the common stock in the aggregate at an exercise price
of $7.63 per share. The proceeds will go toward working capital purposes subject to certain customary restrictions. See, “ Liquidity
and Capital Resources ” for a detailed description of the 2021 Notes.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
None.
77