(NewsDirect)
IncannexHealthcare Ltd (ASX:IHL, NASDAQ:IXHL) CEO Joel Latham tellsProactive the company has begun the process of shifting alloutstanding shares to the Nasdaq after making the decision toredomicile to the United States via a scheme of arrangement.
He says the move willprovide greater exposure to US markets and bring its market valuationin line with its value proposition. Incannex will give shareholdersand option holders the opportunity to vote on redomiciling to the USin October 2023, anticipating a swift implementation of the Nasdaqlisting should approval be given.
“The board is excited to enact this landmarkunanimous decision in conjunction with our key shareholders and otherstakeholders,” Latham said.
“It is a decision made with the intention tomaximise shareholder value. Incannex has matured on the ASX to thepoint that it has a large and diversified drug portfolio with twoexciting drug candidates imminently entering pivotal clinicaltrials.
“By committing our presenceto the United States, we believe that our company’s visibility tointernational investors will increase markedly, partly due to ourvalue proposition compared to similar emerging biotech companies witha presence in North America.”
ContactDetails
Proactive Investors
JonathanJackson
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Jonathan@proactiveinvestors.com
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