Company: IXHL
Filing Date: 2025-03-18
Form Type: PRE 14A
Source: 0001213900-25-024754
Chunk: 15

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-18
Form: PRE 14A
Chunk 15
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 aggregate number of shares of common stock beneficially owned by the holder thereof immediately
following such exercise would exceed a specified beneficial ownership limitation (4.99% or 9.99%); provided, however, that a holder may
increase or decrease the beneficial ownership limitation by giving 61 days’ notice to the Company, but not to any percentage in
excess of 9.99%.

On March 10, 2025 and in
connection with the Private Placement, we entered into a registration rights agreement with the investors pursuant to which we agreed
to register for resale the shares of common stock issued and Warrants Shares issuable in connection with the Private Placement. We intend
to file resale registration statements to fulfill these obligations.

On March 7, 2025, we also entered into a placement agency agreement
(the “Placement Agreement”) with R.F. Lafferty & Co., Inc. (“R.F. Lafferty”), pursuant to which we engaged
R.F. Lafferty to act as sole placement agent in connection with the Private Placement. As compensation to the placement agent, we paid
R.F. Lafferty commission equal to 7.0% of the aggregate gross proceeds from the Private Placement. In addition, we agreed to reimburse
R.F. Lafferty for certain of out-of-pocket expenses, including for reasonable legal fees and disbursements for its counsel.

The Private Placement closed
on March 10, 2025. The net proceeds to us from the Private Placement were approximately $11.3 million, after deducting placement agent
fees and other expenses associated with the Private Placement and payable by us and prior to the repayment of $3.9 million in convertible
debentures.

Required Approvals for the Exercise of the Series A Warrants

The terms of the Series A
Warrants require that we seek stockholder approval as may be required by the rules and regulations of the Nasdaq Stock Market LLC for
their exercise and certain adjustments set forth therein. Accordingly, we are seeking stockholder approval of the following (the “Warrant
Stockholder Approval”):

| (a) | to consent to any adjustment to the exercise price and/or number of shares of common stock underlying                                           
 the Series A Warrants in the event of an adjustment upon the Adjustment Date, as defined and described below, without regard to any limitations 
 upon exercise of the Series A Warrants relating to the Warrant Stockholder Approval and/or the provisions prohibiting adjustments in such       
 Series