Company: IXHL
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029414
Chunk: 14

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 14
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 by reference
into this prospectus supplement and the accompanying prospectus, as updated by our subsequent filings under the Exchange Act, before acquiring
any of such securities. The occurrence of any of these risks might cause you to lose all or part of your investment in the offered securities.

Risks Relating to this Offering

If we are unable to maintain or regain compliance with the requirements of the Nasdaq Global Market, this could result in the delisting of our common stock. A delisting of our common stock from the Nasdaq Global Market could adversely affect our ability to raise additional capital through the public or private sale of equity securities and the ability of investors to dispose of or obtain accurate quotations as to the market value of our common stock.

Our common stock is currently
listed on the Nasdaq Global Market. Continued listing of a security on the Nasdaq Stock Market (“Nasdaq”) is conditioned upon
compliance with various continued listing standards for the applicable market tier. On January 3, 2025, we received a letter (the “Notice”)
from Nasdaq notifying us that, we were not in compliance with Nasdaq Listing Rule 5450(b)(2)(A) (the “MVLS Listing Rule”),
which requires us to maintain a minimum Market Value of Listed Securities (“MVLS”) of at least $50.0 million. The Notice is
only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s
securities on the Nasdaq Global Market. The Notice stated that we have 180 calendar days, or until July 2, 2025, to regain compliance
with the MVLS Listing Rule. To regain compliance, our MVLS must meet or exceed $50.0 million for a minimum of ten consecutive business
days during the 180-day compliance period ending on July 2, 2025.

The Nasdaq Global Market
also imposes, among other requirements, a minimum $1.00 per share bid price requirement for continued inclusion on the Nasdaq Global Market.
The closing bid price for our common stock must remain at or above $1.00 per share to comply with the bid price requirement for continued
listing. Since March 7, 2025, the closing bid price for our common stock has been below $1.00 per share. If we are unable to maintain
a minimum price of $1.00 per share for the preceding 30 consecutive trading days, we will receive a deficiency letter