Item
8.01 Other Events.
On
September 2, 2021, Vince Mojta (“Plaintiff”), through his attorney, filed a complaint (Mojta v. Enveric Biosciences, Inc.,
et al., Case No. 1:21-cv-07385 (S.D.N.Y.)) in the United States District Court for the Southern District of New York, against Enveric
Biosciences, Inc. (the “Company”) and the members of its board of directors (the “Directors”).
The
complaint alleges, among other things, that the Company’s proxy statement/prospectus on Form S-4, as amended (as further amended
and supplemented, the “proxy statement/prospectus”), filed with the Securities and Exchange Commission (the “SEC”)
on June 22, 2021 contains material omissions and materially misleading statements in connection with the proposed transaction (the “amalgamation”)
between the Company and MagicMed Industries Inc. (“MagicMed”). The complaint seeks to enjoin the Company from taking any
steps to consummate the amalgamation unless and until certain information is disclosed to the Company’s shareholders before a vote
on the amalgamation and a judgment for damages. The complaint alleges that the proxy statement/prospectus failed to disclose, among other
things, (i) communications regarding post-transaction employment during the negotiation of the amalgamation, (ii) financial projections
prepared by the Company’s management in connection with the amalgamation, and (iii) additional information regarding analysis performed
by the Company’s financial advisor.
The
Company believes that the suit is without merit and intends to defend vigorously against the suit.
Important
Additional Information About the Amalgamation and Where to Find It
This
communication may be deemed to be solicitation material in respect of the proposed transaction between the Company and MagicMed. In connection
with the proposed transaction, the Company has filed relevant materials with the Securities and Exchange Commission (the “SEC”),
including a registration statement that contains a definitive proxy statement and prospectus. The registration statement was declared effective by the SEC on July 9, 2021, and the proxy statement/prospectus
was mailed or otherwise disseminated to stockholders of the Company. Enveric has also filed and may file other relevant documents with
the SEC regarding the proposed transaction. THE COMPANY URGES INVESTORS AND STOCKHOLDERS
TO READ THESE MATERIALS CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED TRANSACTIONS
AND RELATED MATTERS. Investors and stockholders are able to obtain free copies of the proxy statement/prospectus and other documents
filed by the Company with the SEC through the website maintained by the SEC at www.sec.gov. In addition, investors and stockholders are
able to obtain free copies of the proxy statement, prospectus and other documents filed by the Company with the SEC by contacting Investor
Relations by mail at Enveric Biosciences, Inc., Attn: Investor Relations, 4851 Tamiami Trail N, Suite 200, Naples, Florida 34103. Stockholders
are urged to read the proxy statement, prospectus and the other relevant materials before making any voting or investment decision with
respect to the proposed transactions.
Participants
in the Solicitation
The Company
and MagicMed, and each of their respective directors and executive officers and certain of their other members of management and employees,
may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Additional information regarding
these persons and their interests in the proposed transaction is included in the proxy statement/prospectus relating to the proposed transaction
filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
Disclaimer
This
report does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval,
nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Cautionary
Statement Regarding Forward-Looking Statements
This
report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. You can generally identify forward-looking statements by the use of forward-looking
terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “seek,” “should,” or “will,”
or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions
and involve known and unknown risks and uncertainties, many of which are beyond the Company’s and MagicMed’s control. Statements
in this report regarding the Company, MagicMed and the combined company that are forward-looking, including projections as to the anticipated
benefits of the proposed transaction, the impact of the proposed transaction on the Company’s and MagicMed’s business and
future financial and operating results, the amount and timing of synergies from the proposed transaction, expectations regarding capital
structure following the closing of the proposed transaction, the combined company’s pipeline, intellectual property protection
and R&D spend, and the closing date for the proposed transaction, are based on management’s estimates, assumptions and projections,
and are subject to significant uncertainties and other factors, many of which are beyond the Company’s and MagicMed’s control.
These factors include, among other things, the combined company’s ability to execute successfully its strategic plans, including
its business development strategy, the expiration of patents or data protection on certain products, including assumptions about the
combined company’s ability to retain patent exclusivity of certain products, the impact and result of governmental investigations,
the combined company’s ability to obtain necessary regulatory approvals or obtaining these without delay, the risk that the combined
company’s products prove to be commercially successful or that contractual milestones will be achieved. Similarly, there are uncertainties
relating to a number of other important factors, including: results of clinical trials and preclinical studies, including subsequent
analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S.
FDA and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies; the ability
to enroll patients in planned clinical trials; unplanned cash requirements and expenditures; the amount of funds the combined company
requires for its product candidates; competitive factors; the ability to obtain, maintain and enforce patent and other intellectual property
protection for any product candidates; the ability to maintain key collaborations; the impact of the ongoing COVID-19 pandemic on the
combined company’s results of operations, business plan and the global economy; and general economic and market conditions. Additional
information concerning these risks, uncertainties and assumptions can be found in the Company’s filings with the SEC, including
the risk factors discussed in the Company’s most recent Annual Report on Form 10-K, as updated by its Quarterly Reports on Form
10-Q and future filings with the SEC.