Company: IXHL
Filing Date: 2025-04-28
Form Type: 424B3
Source: 0001213900-25-036065
Chunk: 19

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: 424B3
Chunk 19
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 our future prospects.

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Unless our Common Stock is listed on a national securities exchange, such as Nasdaq, 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 penny stock requirements and regulations could severely limit the liquidity of our Common Stock in the secondary market because fewer brokers or dealers would likely to be willing to undertake related compliance activities to trade in our Common Stock. 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 also likely limit the range and attractiveness of strategic alternatives that we are able to consider, adversely affect our ability to raise additional capital through the public or private sale of equity securities, significantly affect the ability of investors to trade our securities, and/or negatively affect the value and liquidity of our Common Stock.

The resale of the Shares offered pursuant to this prospectus (or the perception that such sales may occur) will result in substantial dilution and may materially and adversely affect the market price our Common Stock. Assuming we receive the Stockholder Approval, the Series A Warrants will likely be exercised pursuant to their zero exercise price provisions, and stockholders will suffer substantial additional dilution for such exercises.

We are not selling any securities under this prospectus and will not receive any of the proceeds from the sale of Shares by the selling stockholders. We will likely only receive nominal proceeds of $0.0001 per share upon the cash exercise of the Pre-Funded Warrants. Though we would receive the proceeds for the cash exercise of the Series A Warrants per their terms, we are unlikely to receive any cash proceeds from the exercise of the Series A Warrants as the Series A Warrants may be exercised following Stockholder Approval on a zero exercise price basis where the holder will be eligible to receive, for each share of Common Stock issuable upon exercise of the Series A Warrant (which itself is subject to up to a tenfold increase depending on the price of our common stock on the Release Date, as defined in the Section titled “ Prospectus Summary – 2025 Private Placement” on page 1 of this prospectus), three shares of our Common