Company: IXHL
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029414
Chunk: 9

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 9
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 A Warrant not previously subject to an adjustment as a result of an exercise by the Holder in accordance with the previous
sentence, will remain subject to a future adjustment in in connection with a Release Date.

In addition, if at any time
during the term of the Series A Warrants there occurs any share split, reverse share split, share dividend, share combination recapitalization
or other similar transaction involving the shares of our common stock (each, a “Share Combination Event”, and such date on
which the Share Combination Event is effected, the “Share Combination Event Date”) and the lowest dollar volume-weighted average
price per share of our common stock during the period commencing on the trading day immediately following the applicable Share Combination
Event Date and ending on the fifth trading day immediately following the applicable Share Combination Event Date (the “Event Market
Price”) (provided if the Share Combination Event is effective prior to the opening of trading on the market on which shares of our
common stock are then traded, then, commencing on the Share Combination Event Date and ending on the fourth trading day immediately following
the applicable Share Combination Event Date (such period, the “Share Combination Adjustment Period”)) is less than the exercise
price then in effect (after giving effect to the adjustment for such event), then, at the close of trading on the last day of the Share
Combination Adjustment Period, the exercise price then in effect on such fifth trading day will be reduced (but in no event increased)
to the Event Market Price and the number of Series A Warrant Shares issuable upon exercise of a Series A Warrant (such resulting number,
the “Share Combination Issuable Shares”) will be increased such that the aggregate exercise price, after taking into account
the decrease in the exercise price, will be equal to the aggregate exercise price on the date of issuance of the Series A Warrants for
the remaining Series A Warrant Shares then issuable pursuant to the Series A Warrant; provided, however, that in no event will the Event
Market Price be lower than the Floor Price; and provided further that notwithstanding the foregoing, if one or more Share Combination
Events occurred prior to Stockholder Approval being obtained and the reduction of the exercise price was limited by the Floor Price while
it was $1.08 per share, once Stockholder Approval is obtained, the Exercise Price will automatically be reduced to equal the greater of
(x) the lowest Event Market Price with respect to any Share Combination Event that occurred prior to Stockholder Approval