Business
Incannex Completes Listing of American Depositary Shares on Nasdaq; Rings Nasdaq Closing Bell
MELBOURNE, Australia, Feb. 28, 2022 /PRNewswire/ -- Incannex Healthcare Limited (Nasdaq: IXHL) (ASX: IHL), ('Incannex' or the 'Company') a clinical-stage
About this update from Incannex Healthcare Inc.
[{"type":"text","content":"MELBOURNE, Australia, Feb. 28, 2022 /PRNewswire/ -- Incannex Healthcare Limited (Nasdaq: IXHL) (ASX: IHL), ('Incannex' or the 'Company') a clinical-stage pharmaceutical company developing unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies for unmet medical needs, today announced that American Depositary Shares ('ADS') representing its ordinary shares have commenced trading on the Nasdaq Global Market ('Nasdaq') under the ticker symbol 'IXHL'. Each IXHL ADS represents 25 ordinary shares of the Company.\n\n \n \n \n \n \n \n\n \nThe listing on Nasdaq follows the declaration of effectiveness by the United States Securities and Exchange Commission (SEC) of the Company's registration statement on Form 20-F and formal approval from Nasdaq upon meeting the listing requirements. \nIncannex simultaneously retains its listing of ordinary shares on the Australian Stock Exchange (ASX). However, by achieving a dual listing on Nasdaq, the Company is now more accessible to a wider audience of investors with sophisticated understandings of medicinal cannabinoids, psychedelic therapies, and pharmaceutical development. \nIncannex completed the Nasdaq listing without an associated capital raise in the United States. Therefore, initial trading of ADSs may be limited due to the time it takes for existing shareholders to transition their IHL ordinary shares to ADSs. Deutsche Bank Trust Company Americas has been appointed depositary, custodian, and registrar for the Company's American Depositary Receipt program.\nIncannex rings the Nasdaq closing bell\nJoel Latham, Managing Director and Chief Executive Officer of Incannex, and Troy Valentine, Chairman of Incannex were invited to ring the closing bell at the Nasdaq MarketSite in Times Square on Friday, February 25, at 4:00 p.m. US EST to celebrate the listing (images in Appendix A below). \n\"The ringing of the closing bell to commemorate the listing of our ADSs was a milestone for Incannex, as we advance our pipeline of novel synthetic cannabinoid and psychedelic agents through the clinic,\" stated Mr. Latham. \"Listing on Nasdaq will help increase our visibility with international investors and clinical research facilities. We look forward to continuing our strategy of pursuing U.S. Food and Drug Administration approval for all of our therapies and to bringing these ...