IXHL - Incannex Healthcare to redomicile from Australia to US list on Nasdaq

2023-07-10 08:12:11 ET

• Pharmaceutical development company Incannex Healthcare ( NASDAQ: IXHL ) said on Monday that it intends to redomicile from Australia to the U.S., and is expected to list on Nasdaq.
• The process will take place through proposed schemes of arrangement between Incannex and its shareholders and option holders.
• The company's shares, in the form of American Depository Receipts, have been trading on Nasdaq since February 2022.
• Each ADR represents 25 shares.
• Incannex will have a new parent company, Incannex Healthcare, and shareholders will hold the shares of Incannex Healthcare.
• The new parent company will be incorporated in Delaware, and will be listed on Nasdaq.
• The company said its board believes that becoming a U.S. company and trading only on Nasdaq will provide many and varied benefits to Incannex and its shareholders.
• IXHL shares were trading -2.60% pre-market.
• Source: Press Release

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