NEW YORK, February 1, 2021 – Proskauer, a leading international law firm, today announced that its client Leisure Acquisition Corp., a special purpose acquisition company formed for the purpose of effecting a merger, acquisition or similar business combination, has entered into a definitive agreement to acquire Ensysce Biosciences, Inc., together with its affiliated entities, "Ensysce".

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.    

Proskauer has advised Leisure Acquisition Corp., since its IPO, three years ago. The team who acted on this deal was led by Daniel Ganitsky and Jeff Horwitz with Lara Miller, Neel Sheth, Nick Pellegrino and Brian Fried(M&A), Daniel Forman (Capital Markets) and Stu Rosow, Janicelynn Park (Tax) and Wai Choy (IP).