Company: IXHL
Filing Date: 2025-05-16
Form Type: DEFA14A
Source: 0001213900-25-044454
Chunk: 1

Company: Incannex Healthcare Inc.
Filing Date: 2025-05-16
Form: DEFA14A
Chunk 1
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, the Company will pay each Warrant Holder, its pro rata portion of the net proceeds
received in connection with the sale and issuance of shares of its common stock pursuant to that certain Sales Agreement, dated as of
April 7, 2025, by and between the Company and A.G.P/Alliance Global Partners up to an amount equal to each Warrant Holder’s respective
subscription amount under its Securities Purchase Agreement (the “Warrant Cancellation Payment”). In consideration of the Warrant Cancellation Payment, the Warrant Holder’s original
number of Warrant Shares (as defined in the Series A Warrant) would be reduced by a number of shares obtained by dividing the Warrant
Cancellation Payment by $2.14, rounded down to the nearest whole share (the “Warrant Cancellation”). The Warrant Cancellation
will have the same effect as cancellation of the original Series A Warrant and the Warrant Holder will be issued new Series A Warrant
evidencing the new Warrant Share amount. For example, if the Company were to pay to the Warrant Holders an aggregate of $12.5 million
in net proceeds, which would represent the entire aggregate subscription amount under all of the Warrant Holders Securities Purchase Agreements,
the aggregate number of shares underlying all of the Series A Warrants would be reduced by 5,833,333 Warrant Shares, from 11,574,090 Warrant
Shares to 5,740,757 Warrant Shares, in each case, prior to any of the adjustments set forth in the Series A Warrants or application of
their zero exercise price provisions (referred to in the text of the Series A Warrants as “alternative cashless exercise”).
Assuming full adjustment of the exercise price of the Series A Warrant to the floor price of $0.216 per share and exercise pursuant to
the zero exercise price provisions of the Series A Warrants, the aggregate number of shares underlying all of the Series A Warrants would
be reduced by 175,000,000 Warrant Shares, from 347,222,700 Warrant Shares to 172,222,700 Warrant Shares, if the Company were to pay to
the Warrant Holders an aggregate of approximately $12.5 million in net proceeds as described above.

This
supplement does not provide all of the information that is important to your voting decisions at the Special Meeting and should be read
in conjunction with the Proxy Statement. Except as