IHL (ASX) News: IHL Incannex Healthcare Ltd Files To Withdraw U.S. IPO Plans

Previously
NASDAQ LISTING WITH ADDITIONAL EXTRA of IPO TO RAISE EXTRA $$$

Now

NASDAQ LISTING WITHOUT ADDITIONAL EXTRA of IPO TO RAISE EXTRA $$$

IHL has sufficient cash in the bank circa $20M and does not need the IPO part on the NASDAQ just the plain old listing part is fine for now!

So we are still listing on the NASDAQ in February -

What has changed?
The NASDAQ market has turned down and in particular the NBI ( Nasdaq Biotech Index)
If we listed on the NASDAQ in December or early January our current ASX SP would have been dragged down with it, to significantly lower levels than it is currently. The BOD has made the call to delay/withdraw the IPO part because the market in the US would have labeled IHL as a comparable Psychedelics stock similar to Mindmed and Compass.

See my post- https://hotcopper.com.au/threads/ihl-incannex-holders-research.6278647/page-271?post_id=58994525

Yes , yes we have used them as comparables for a long time now, they were favorable times when Compass had a Market Cap of $US2BLN or more, the market has changed. We have the BOD to guide the company through these times and pivot as required.

See my post- https://hotcopper.com.au/threads/ihl-incannex-holders-research.6278647/page-292?post_id=59048283

Now we need to list on the NASDAQ without an IPO and prove to the US investor that we are not just a one-trick pony (only psychedelics) we are far more than that.

What is the best way to do that?
Clinical Trial Results for Sleep Apnoea and later maybe some Pre-Clinical Results for TBI

Clinical Trial Results for PSI-GAD could be 12 months or more away.
Clinical Trial Results for Sleep Apnoea are available within weeks - February!!!

So, we list our ADR's as planned already, in February BUT without an IPO to avoid some pricing mismatch and put our best foot forward with some solid Sleep Apnoea results.

I think it is very fair to say, that this BOD in particular Joel thinks " how will this affect my holdings " if I do XYZ, so if I do that then it will also affect our other 7,000 plus shareholders, so NO, I will do ABC instead.

This is how the ADR's work

https://hotcopper.com.au/threads/news-ihl-incannex-healthcare-ltd-files-to-withdraw-u-s-ipo-plans.6543287/page-7?post_id=59056703

Let me know if you have any questions!

Good luck