Business Context and Reporting Period
This Form 8-K is filed by Leisure Acquisition Corp. (not Ensysce Biosciences, Inc.) on December 27, 2019. The report discloses a definitive business combination agreement with GTWY Holdings Limited, the holding company for Gateway Casinos & Entertainment Limited.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity for either Leisure Acquisition Corp. or GTWY Holdings. This document serves as a notification of the transaction rather than a financial performance report.
Material Changes
- Definitive Agreement: Leisure Acquisition Corp. entered into a definitive business combination with GTWY Holdings Limited.
- Target Company: The transaction involves Gateway Casinos & Entertainment Limited.
Guidance, Outlook, and Risks
- Regulatory Process: A Registration Statement on Form F-4 will be filed with the SEC, containing a proxy statement/prospectus for stockholder approval.
- Investor Action: Stockholders are urged to read the upcoming proxy statement/prospectus for important details regarding the transaction and related agreements.
- Disclaimer: This communication is not an offer to sell or a solicitation of an offer to buy securities. No sale of securities will occur in jurisdictions where such an offer would be unlawful prior to registration.
Key Facts for Investor Verification
- Verify the terms of the business combination in the upcoming Form F-4 proxy statement/prospectus.
- Confirm the financial health and valuation of GTWY Holdings and Gateway Casinos & Entertainment Limited, as no financial data is included in this 8-K.
- Monitor the status of the Form F-4 filing for details on the exchange ratio and transaction structure.
- Note that the registrant is an emerging growth company.