Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 18

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 18
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 in convertible debentures. Nasdaq Shares of our common stock are listed on The Nasdaq Global Market, and as a result, we are subject to rules and regulations of Nasdaq, including, but not limited to, Nasdaq Listing Rule 5635 which requires stockholder approval prior to certain issuances of our common stock and Nasdaq Listing Rule 5101 which provides that Nasdaq has broad discretionary authority in addition to the enumerated Nasdaq Listing Rules and procedures “in order to maintain the quality of and public confidence in its market, to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and to protect investors and the public interest.” Nasdaq Listing Rule 5635(a) requires a listed company to obtain stockholder approval prior to issuance of securities in connection with the acquisition of the stock or assets of another company (i) if, other than a public officer for cash, the number of shares of common stock or securities of the listed company to be issued is or will be equal to or in excess of (x) 20% of the number of shares of common stock of the listed company outstanding before the issuance of the stock or securities or (y) 20% or more of the voting power of the listed company outstanding before the issuance, or (ii) if an officer, director or substantial shareholder has a greater than 5% interest in such assets or company to be acquired or in the consideration to be paid (or such persons collectively have a 10% or greater interest) and the present or potential issuance of common stock of the listed company, or securities convertible into or exercisable for common stock of the listed company, could result in an increase in outstanding common shares of the listed company or voting power of the listed company by 5% or more. Pursuant to Nasdaq Listing Rule 5635(b), stockholder approval is also required prior to an issuance, or potential issuance, of securities that could result in a “change of control” of a listed company, which for Nasdaq purposes is generally deemed to occur when, as a result of an issuance, an investor or a group of investors acquires, or has the right to acquire, 20% or more of the outstanding equity or voting power of a listed company and/or such ownership or voting power would be the company’s largest ownership position. However, Nasdaq will consider facts and circumstances in its discretion in determining whether a change of control has or may occur in connection with a transaction. Pursuant to Nasdaq