Company: IXHL
Filing Date: 2025-03-18
Form Type: PRE 14A
Source: 0001213900-25-024754
Chunk: 22

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-18
Form: PRE 14A
Chunk 22
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 generally including, with certain exceptions, any reorganization,
recapitalization or reclassification of our shares of common stock, the sale, transfer or other disposition of all or substantially all
of our properties or assets, our consolidation or merger with or into another person, the acquisition of more than 50% of our outstanding
shares of common and preferred stock, or any person or group becoming the beneficial owner of more than 50% of the voting power represented
by our outstanding shares of common stock and preferred stock, the holders of the Warrants will be entitled to receive upon exercise thereof
the kind and amount of securities, cash or other property that the holders would have received had they exercised the Warrants immediately
prior to such fundamental transaction. In addition, in certain circumstances, upon a fundamental transaction, the holders of the Series
A Warrants will have the right to require us to repurchase their respective Series A Warrants at the Black-Scholes value; provided, however,
that, if the fundamental transaction is not within our control, including not approved by our Board, then the holder will only be entitled
to receive the same type or form of consideration (and in the same proportion), at the Black-Scholes value of the unexercised portion
of the Series A Warrant that is being offered and paid to the holders of our common stock in connection with the fundamental transaction.

Governing Law. The
Warrants are governed by New York law.

Purpose of the Warrant Stockholder Approval

Since the total number of
shares in the Private Placement, including the potential issuance of the Warrant Shares, would be deemed a “20% Issuance,”
we are required to obtain the approval of our stockholders before permitting exercises of the Series A Warrants in order to comply with
Nasdaq Listing Rule 5635(d). A “20% Issuance” is a transaction, other than a public offering, involving the sale, issuance
or potential issuance by us of our common stock (or securities convertible into or exercisable for common stock) which, alone or together
with sales by our officers, directors or substantial stockholders, equals 20% or more of the common stock or 20% or more of the voting
power outstanding before the issuance.

In order to comply with Nasdaq
Listing Rule 5635(d) and permit the holders to exercise the Series A Warrants, our stockholders need to approve the issuance of the Series
A Warrants and the