Company: IXHL
Filing Date: 2025-03-24
Form Type: S-3
Source: 0001013762-25-001587
Chunk: 8

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-24
Form: S-3
Chunk 8
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 will remain
unchanged following such adjustment. “Release Date” means the later of (x) the earlier of (i) the effective date of a
registration statement registering all of the securities sold in the Private Placement or (ii) the date that the securities sold in
the Private Placement can be sold, assigned or transferred without restriction or limitation pursuant to Rule 144 or Rule 144A
promulgated under the Securities Act and (y) the date that the Company obtains the stockholder approval. If, for any reason, less
than all of the securities sold pursuant to the Purchase Agreement have been registered for resale prior to the expiration of the
90-day period immediately following the trading day during which the Company files a Current Report on Form 8-K giving public notice
of stockholder approval, then a Series A Warrant holder, with respect to itself only, will have the right in its sole and absolute
discretion, to deem that the Release Date has occurred with respect to such portion of a Series A Warrant as the holder determines
and an adjustment to the exercise price and shares issuable upon exercise of the Series A Warrant will occur for that portion of the
Series A Warrant. Any portion of a Series A Warrant not previously subject to an adjustment as a result of an exercise by the Holder
in accordance with the previous sentence, will remain subject to a future adjustment in in connection with a Release Date.

In addition, if at any time
during the term of the Series A Warrants there occurs any share split, reverse share split, share dividend, share combination recapitalization
or other similar transaction involving the shares of our common stock (each, a “Share Combination Event”, and such date on
which the Share Combination Event is effected, the “Share Combination Event Date”) and the lowest dollar volume-weighted average
price per share of our common stock during the period commencing on the trading day immediately following the applicable Share Combination
Event Date and ending on the fifth trading day immediately following the applicable Share Combination Event Date (the “Event Market
Price”) (provided if the Share Combination Event is effective prior to the opening of trading on the market on which shares of our
common stock are then traded, then, commencing on the Share Combination Event Date and ending on the fourth trading day immediately following
the applicable Share Combination Event Date (such period, the “Share Combination Adjustment Period”)) is less than the exercise
price then in effect (after giving effect to the adjustment for