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Incannex Healthcare Inc. (NASDAQ:IXHL) announced Thursday that it has increased the capacity of its existing at-the-market (ATM) offering program by up to an additional $100 million. The company filed a prospectus supplement to effect this change, according to a statement released through a Securities and Exchange Commission filing.
The expanded ATM program allows Incannex Healthcare to issue additional shares of its common stock, with a par value of $0.0001 per share, at its discretion. The company is not obligated to sell any shares under the program and will determine if and when to utilize the facility based on market conditions and strategic priorities.
The ATM is conducted under an Amended and Restated Sales Agreement dated May 28, 2025, with A.G.P./Alliance Global Partners (NYSE:GLP) and Curvature Securities, LLC serving as sales agents. The new supplement increases the total amount of shares that may be sold under the agreement by up to $100 million.
The company stated there is no assurance that the sales agents will be able to complete future placements, even if instructed to do so. The number of shares ultimately sold, if any, will depend on factors such as the market price of Incannex Healthcare’s common stock during the sales period, limits set by the company, and investor demand.
An opinion from Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. regarding the legality of the share issuance and sale was included as an exhibit to the filing.
This information is based on a statement released in a filing with the Securities and Exchange Commission.
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