Thomson Geer has acted for Incannex in their A$13 million Institutional Placement. The placement was undertaken by a small consortium of international funds that undertook extensive due dilegence. Under the terms of the placement, Incannex proposes to issue approximately 63.4 million new fully paid ordinary shares to placement subscribers at a prices of A$0.205 per share.
The increased funding will be used to ensure the Incannex's expansive clinical develoopment pipeline will be fully funded into 2025.
The Thomson Geer team was led by Partner, David Schiavello and supported by Lawyer, Elizabeth Hanrahan.