Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 630

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 3
Chunk 630
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 24, 2025, the Company filed a prospectus
supplement to increase the capacity of its ATM by up to an additional $100 million. While this filing increases the available capacity
under the ATM, the Company is under no obligation to issue any share of its common stock pursuant to the program. The expanded facility
is intended to enhance the Company’s financial flexibility, providing an efficient mechanism to access capital if, and when, deemed
appropriate. Any utilisation of the ATM will be at the discretion of the Company, taking into account prevailing market conditions and
strategic priorities.

As previously disclosed,
the ATM is conducted pursuant to the Amended and Restated Sales Agreement, by and among the Company and the Sales Agents. Accordingly,
pursuant to the prospectus supplement, the amount of shares of the Company’s common stock that the Company may issue under the Amended
and Restated Sales Agreement has been increased by up to an aggregate of $100 million of shares of the Company’s common stock. There
can be no assurance that the Sales Agents will be able to complete future placements pursuant to the Amended and Restated Sales Agreement,
even if instructed to do so. The number of shares of the Company’s common stock that the Company may ultimately sell under the Amended
and Restated Sales Agreement will fluctuate based on a number of factors, including the market price of its common stock during the sales
period, the limits it may set in any instruction to sell shares of its common stock, and the demand for its common stock during an applicable
sales period.

F-22

Item 9. Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure

None.

Item 9A. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as that term is defined
in Rules 13a-15(e) and 15d-15(e)) under the Exchange Act that are designed to ensure that information required to be disclosed in our reports
under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and
forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial
Officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosures. Any controls
and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.
Our management, with the participation of our Chief