Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 63

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 63
---
 Incorporation or our amended and restated bylaws, provide a right
to our stockholders to dissent and obtain an appraisal of, or payment for, such stockholders’ capital stock.

Accounting Matters

The Reverse Stock Split would not affect the per-share par
value of our common stock, which would remain at $0.0001 par value per share, while the number of outstanding shares of common stock would
decrease in accordance with the Reverse Stock Split ratio. As a result, as of the effective time of the Reverse Stock Split, the stated
capital attributable to common stock on our balance sheet would decrease, and the additional paid-in capital account on our
balance sheet would increase by an offsetting amount. Following the Reverse Stock Split, the reported per-share net income or
loss would be higher because there would be fewer shares of common stock outstanding, and we would adjust historical per share amounts
set forth in our future financial statements.

Reservation of Right to Abandon the Amendment to our Restated Certificate of Incorporation

Our board of directors reserves the right to abandon
the amendment to our Amended and Restated Certificate of Incorporation described in this proposal without further action by our stockholders
at any time before the effective time, even if stockholders approve such amendment at the special meeting. By voting in favor of the amendment
to our Amended and Restated Certificate of Incorporation, stockholders are also expressly authorizing the board of directors to determine
not to proceed with and abandon the Reverse Stock Split if it should so decide.

Material U.S. Federal Income Tax Consequences of the Reverse Stock Split

The following summary describes, as of the date of this proxy statement,
certain U.S. federal income tax consequences of the Reverse Stock Split to U.S. holders (as defined below) of our common stock. A “U.S.
holder” is a beneficial owner of our common stock that, for U.S. federal income tax purposes, is either:

| ● | an individual citizen or resident of the United States; |

| ● | a corporation, or other entity taxable as a corporation for U.S. federal income tax purposes, created or organized in or under the 
 laws of the United States or any state thereof or the District of Columbia;                                                        |

| ● | an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or |

| ● | a trust, if: (i) a court within the United States is able to exercise primary