Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 52

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 52
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 effecting a reverse stock split prior to September 6, 2025, unless
we are expressly required to effect a reverse split as a result of changes in applicable laws effected after the closing of the Private
Placement related to Nasdaq listing requirements. To date, we are not aware of any such changes. In order to obtain a waiver of these
provisions to effect a reverse stock split, we would need to obtain the waiver of the investors who purchased at least 50.1% of the shares
of common stock and Pre-Funded Warrants issued in the Private Placement. We are currently seeking stockholder approval to authorize the
reverse stock split and, if approved, may implement the reverse stock split at any time on or after September 6, 2025, unless we are required
to effect it earlier due to changes in applicable laws or otherwise obtain consent from the investors.

If our stockholders approve the Reverse Stock
Split, our board of directors would have the sole discretion to effect the Reverse Stock Split and to fix the specific ratio for the Reverse
Stock Split, provided that the ratio would be not less than 1-for-2 and not more than 1-for-50. We believe
that enabling our board of directors to fix the specific ratio of the Reverse Stock Split within the stated range will provide us with
the flexibility to implement the split in a manner designed to maximize the anticipated benefits to us and our stockholders, as described
below. The determination of the ratio of the Reverse Stock Split will be based on a number of factors, described further below under the
heading “—Criteria to be Used for Decision to Apply the Reverse Stock Split.”

If our stockholders approve the Reverse Stock
Split, the Reverse Stock Split would become effective upon the time specified in the certificate of amendment to our Amended and Restated
Certificate of Incorporation, as filed with the Secretary of State of the State of Delaware. The exact timing of the filing of the certificate
of amendment and the Reverse Stock Split will be determined by our board of directors based on its evaluation as to when such action will
be the most advantageous to us and our stockholders. In addition, our board of directors reserves the right, notwithstanding stockholder
approval and without further action by our stockholders, to abandon the certificate of amendment and the Reverse Stock Split if, at any
time prior to the filing of the certificate of amendment with the Secretary of State, our board of directors, in its sole discretion,
determines that it