Company: IXHL
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013783
Chunk: 85

Company: Incannex Healthcare Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 whether currently owned or later acquired, and all proceeds
therefrom (the “Assets”), as described in the Security Agreement. In addition, our Subsidiary, Incannex Healthcare Pty Ltd
(“IHPL”), entered into a patent security agreement (the “Patent Security Agreement”) and a trademark security
agreement (the “Trademark Security Agreement”), each effective as of October 14, 2024, under which IHPL granted the investors
a security interest in its patents, patent applications, and all proceeds therefrom, and a security interest in its trademarks, trademark
applications, and all proceeds therefrom, respectively. In addition, pursuant to the Security Agreement, the Subsidiaries granted to Arena
Opportunities a security interest in its Assets and, under a Subsidiary Guarantee, effective as of October 14, 2024 (the “Subsidiary
Guarantee”), jointly and severally agreed to guarantee and act as surety for our obligation to repay the September
2024 Debentures and other obligations under the related transaction documents. 

17

We are required to register the shares of our Common
Stock issuable upon conversion of the September 2024 Debentures and upon exercise of the September 2024 Debenture Warrants. However, the
issuance of the common stock underlying the September 2024 Debentures and the September 2024 Debenture Warrants are subject to stockholder
approval to the extent the issuance would exceed 19.99% of the number of shares of our common stock outstanding as of the date of the
September 2024 Purchase Agreement. On December 11, 2024, our stockholders approved, for purposes of complying with Nasdaq Listing Rule 5635(d),
the issuance of 20% or more of our issued and outstanding Common Stock pursuant to the September 2024 Purchase Agreement, including upon
the conversion of September 2024 Debentures and September 2024 Warrants.

On November 6, 2024, pursuant to our agreements in connection with
the First Tranche Debenture, the Company filed a resale Registration Statement on Form S-1/A with the SEC, registering for resale up to
61,389,758 shares of Common Stock, including up to 10,101,009 shares of Common Stock issuable upon conversion of the First Tranche Debenture
and up to 453,749 shares of Common Stock iss