Business Context and Reporting Period
This Form 8-K is a current report filed by Leisure Acquisition Corp. (not Ensysce Biosciences, Inc.) on February 2, 2021. The filing discloses a proposed business combination between Leisure Acquisition Corp. and Ensysce Biosciences, Inc. The registrant is an emerging growth company incorporated in Delaware, with securities trading on The Nasdaq Stock Market LLC under the symbols LACQ, LACQW, and LACQU.
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 Ensysce Biosciences, Inc. This document serves as a notification of a corporate event rather than a financial performance report.
Material Changes
The primary material change disclosed is the announcement of a proposed business combination. On February 2, 2021, Leisure Acquisition Corp. issued a press release (Exhibit 99.1) stating its intent to host an investor call on February 3, 2021, regarding the transaction with Ensysce Biosciences, Inc.
Guidance, Outlook, and Risks
- Outlook: The company intends to file a registration statement on Form S-4, which will include a proxy statement/prospectus detailing the transaction.
- Process: Upon SEC effectiveness of the registration statement, definitive proxy materials will be mailed to stockholders for a special meeting to vote on the transaction.
- Risks and Contingencies: The filing explicitly states that this communication is not a solicitation of proxies and does not constitute an offer to sell securities. The transaction is subject to regulatory filings and shareholder approval.
- Management Commentary: Management urges investors to read the forthcoming proxy statement/prospectus for important information regarding both companies and the transaction.
Investor Verification Checklist
- Verify the details of the proposed business combination in the upcoming Form S-4 and proxy statement/prospectus.
- Confirm the date and access details for the investor call scheduled for February 3, 2021.
- Review the definitive proxy materials for the terms of the merger and the voting process for the special meeting.
- Check the SEC website (www.sec.gov) or the company website (www.leisureacq.com) for the latest filed documents.