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 8, 2024, was $0.7852 and $0.041, respectively.
Holders
As
of March 8, 2024, there were approximately 71 holders of record of our common stock.
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.
67
Securities
Authorized for Issuance under Equity Compensation Plans
The
following table provides information as of December 31, 2023, with respect to securities that may be issued under our equity compensation
plans:
Plan Category
Number of
Securities to be
Issued upon
Exercise of
Outstanding
Options,
Warrants and
Rights
Weighted
Average
Exercise Price
of Outstanding
Options,
Warrants and
Rights
Number of
Securities
Remaining
Available for
Future Issuance
Under Equity
Compensation
Plans
(Excluding
Securities
Reflected in the
First Column)
Equity compensation plans approved by security holders
581,314
$ 33.15
2,112
Equity compensation plans not approved by security holders
-
-
-
Total
581,314
$ 33.15
2,112
Recent
Sales of Unregistered Securities and Use of Proceeds
On
October 23, 2023, we entered into a Securities Purchase Agreement for an aggregate financing of $1.7 million with investors. The Company
issued to the investors (i) 2023 Notes in the aggregate principal amount of $1.8 million for an aggregate purchase price of $1.7 million
and (ii) warrants to purchase 3.8 million shares of the Company’s common stock in the aggregate at an exercise price of $1.5675
per share. The first funding of $0.6 million occurred on October 25, 2023 and the second funding of $1.1 million occurred on November
28, 2023. Pursuant to the 2023 Notes, shares of Company common stock were issued to these investors in satisfaction of principal and
interest payments. The proceeds are being used for working capital purposes subject to certain customary restrictions. See, “ Liquidity
and Capital Resources ” for a detailed description of the 2023 Notes.
None
of the foregoing transactions involved any underwriters, underwriting discounts or commissions, or any public offering. Unless otherwise
set forth above, we believe each of these transactions was exempt from registration under the Securities Act in reliance on Section 4(a)(2)
of the Securities Act (and Regulation D promulgated thereunder) as transactions by an issuer not involving any public offering or Rule
701 promulgated under Section 3(b) of the Securities Act as transactions by an issuer under benefit plans and contracts relating to compensation
as provided under Rule 701. The recipients of the securities in each of these transactions represented their intentions to acquire the
securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends
were placed on the share certificates issued in these transactions. All recipients had adequate access, through their relationships with
us, to information about us. The sales of these securities were made without any general solicitation or advertising.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
None.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.