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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Incannex Healthcare to redomicile from Australia to US, list on Nasdaq