Company: IXHL
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029414
Chunk: 15

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 15
---
 from the Staff of
Nasdaq (the “Staff”). While the Staff may provide us with a 180-calendar day grace period to regain compliance with the bid
price requirement and while we may have the ability to request a hearing before the Nasdaq Hearings Panel, there can be no assurance that
we will maintain compliance with the bid price requirement or any of other Nasdaq listing requirements, including the MVLS Listing Rule,
or that any appeal to the Nasdaq Hearing Panel will be successful.

We are actively monitoring
our stock price and our MVLS and will consider any and all options available to us to maintain or, if necessary, regain compliance, including,
to the extent we may then be eligible, listing on the Nasdaq Capital Market. There can be no assurance, however, that we will be able
to maintain or, if necessary, regain compliance and meet Nasdaq’s continued listing requirements for any market tier when or as
needed. To the extent that we are unable to maintain or, if necessary, regain compliance with the Listing Rule or the other requirements
of Nasdaq for continued listing, there is a risk that our Common Stock may be delisted from Nasdaq. If our common stock is delisted by
Nasdaq, our common stock may be eligible to trade on an over-the-counter quotation system, where an investor may find it more difficult
to sell our stock or obtain accurate quotations as to the market value of our common stock. We cannot ensure that our common stock, if
delisted from the Nasdaq Global Market, will be listed on another national securities exchange or quoted on an over-the counter quotation
system.

Unless our common stock is
listed on a national securities exchange, such as The Nasdaq Stock Market, LLC, our common stock will also likely be subject to the regulations
and restrictions regarding trading in “penny stocks,” which are those securities trading for less than $5.00 per share, and
that are not otherwise exempted from the definition of a penny stock under other exemptions provided for in the applicable regulations.
These requirements and regulations could severely limit the liquidity of securities in the secondary market because fewer brokers or dealers
would likely to be willing to undertake related compliance activities. If our common stock is not listed on a national securities exchange,
the rules and restrictions regarding penny stock transactions may limit an investor’s ability to sell to a third-party and our trading
activity in the secondary market may be reduced. Delisting from Nasdaq would likely limit the range and attractiveness of strategic