- Incannex Healthcare (IHL) files a registration statement with the US Securities and Exchange Commission for a proposed US public offering (IPO)
- In Australia, the clinical-stage pharmaceutical company develops medicinal cannabis products and psychedelic treatments for a range of conditions
- Subject to shareholder approval, the proposed IPO would issue American Depository Shares (ADSs), with each representing 50 ordinary IHL shares
- Incannex intends to list the ADSs on the Nasdaq under ticker symbol “IXHL”
- The company is up 9.09 per cent at 30 cents per share at 11:18 am AEST
Incannex Healthcare (IHL) has filed a registration statement with the United States’ Securities and Exchange Commission in relation to a proposed US public offering (IPO).
Based in Australia, the clinical-stage pharmaceutical company is focussed on developing unique medicinal cannabis products and psychedelic therapies to treat anxiety, sleep apnoea, brain injuries and various inflammatory conditions.
The proposed IPO would encompass American Depository Shares (ADSs), each representing 50 ordinary shares in the company.
IHL intends to call an extraordinary general meeting to seek shareholder approval for the issurance of ordinary shares under the offering.
Notably, the number of securities to be sold and the price per ADS have not yet been determined. Further, the IPO is subject to market conditions, with no assurance as to whether or when it might be launched or completed.
Additionally, and concurrent with the proposed US offering, Incannex intends to list the ADSs on the Nasdaq under ticker symbol “IXHL”.
The company’s ASX-listed IHL securities would continue to trade throughout the offering and upon its completion.
In a statement today, Incannex Healthcare thanked its US-based corporate advisors, EAS Advisors LLC, for facilitating introductions and assisting with the proposed Nasdaq listing.
On the Australian market, the company was up 9.09 per cent at 30 cents per share at 11:18 am AEST.