Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 60

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 60
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 Reverse Stock Split, we would continue to be
subject to the periodic reporting requirements of the Exchange Act.

After the effective time of the Reverse Stock Split,
our common stock will have a new Committee on Uniform Securities Identification Procedures (“CUSIP”) number, which is a number
used to identify our equity securities, and stock certificates with the older CUSIP numbers will need to be exchanged for stock certificates
with the new CUSIP numbers by following the procedures described below.

Our directors and executive officers have no substantial
interests, directly or indirectly, in the matters set forth in the Reverse Stock Split, except to the extent of their ownership in shares
of our common stock and securities exercisable for our common stock, which shares and securities would be subject to the same proportionate
adjustment in accordance with the terms of the Reverse Stock Split as all other outstanding shares of our common stock and securities
exercisable for our common stock (other than the Series A Warrants).

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Authorized Shares of Common Stock

We are currently authorized under our Amended and
Restated Certificate of Incorporation to issue up to a total of 110,000,000 shares of capital stock, comprised of 100,000,000 shares of
common stock, $0.0001 par value per share, and 10,000,000 shares of preferred stock, $0.0001 par value per share. In Proposal No. 2, we
are seeking stockholder approval to increase the number of shares of our common stock authorized for issuance under our Amended and Restated
Certificate of Incorporation from 100,000,000 shares to 800,000,000 shares. While the Reverse Stock Split would decrease the number of
outstanding shares of our common stock, it would not change the number of authorized shares under our Amended and Restated Certificate
of Incorporation. Consequently, the Reverse Stock Split would have the effect of increasing the number of shares of common stock available
for issuance under our Amended and Restated Certificate of Incorporation. Our board of directors believes that such an increase is in
our and our stockholders’ best interests as it would provide us with greater flexibility to issue shares of common stock in connection
with possible future financings as under our equity incentive plans and for other general corporate purposes.

By increasing the number of authorized but unissued
shares of common stock, the Reverse Stock Split could, under certain circumstances, have an anti-takeover effect