Company: IXHL
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029414
Chunk: 8

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 8
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 to receive cash proceeds from the exercise
of the Series A Warrants.

The exercise price of the
Series A Warrants will be reduced (but in no event increased) to the greater of (I) the Floor Price (as described below) and (II) the
lowest dollar-volume-weighted-average-price during the period beginning two full trading days prior to the Release Date and ending on
the 10th trading day after the Release Date (as described below). Upon any such resulting adjustment of the exercise price in the Series
A Warrants, the number of Series A Warrant Shares issuable under the Series A Warrants will be increased such that the aggregate exercise
price of a Series A Warrants (adjusted for any exercises by a holder prior to this adjustment) will remain unchanged following such adjustment.
As a result, the aggregate number of shares underlying all of the Series A Warrants, may increase from 11,574,090 to up to 115,740,900,
assuming full adjustment of the exercise price to the Floor Price and before giving effect to the zero strike price exercise provision.
Assuming full adjustment of the exercise price to the Floor Price, the aggregate number of shares issuable upon a zero strike price exercise
of all of the Series A Warrants would be 347,222,700. “Release Date” means the later of (x) the earlier of (i) the effective
date of a registration statement registering all of the securities sold in the Private Placement or (ii) the date that the securities
sold in the Private Placement can be sold, assigned or transferred without restriction or limitation pursuant to Rule 144 or Rule 144A
promulgated under the Securities Act and (y) the date that the Company obtains the Stockholder Approval. If, for any reason, less than
all of the securities sold pursuant to the Purchase Agreement have been registered for resale prior to the expiration of the 90-day period
immediately following the trading day during which the Company files a Current Report on Form 8-K giving public notice of Stockholder
Approval, then a Series A Warrant holder, with respect to itself only, will have the right in its sole and absolute discretion, to deem
that the Release Date has occurred with respect to such portion of a Series A Warrant as the holder determines and an adjustment to the
exercise price and shares issuable upon exercise of the Series A Warrant will occur for that portion of the Series A Warrant. Any portion
of a Series