Company: IXHL
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001213900-25-092837
Chunk: 190

Company: Incannex Healthcare Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 190
---
 Corporation Law, which limits
the ability of stockholders holding shares representing more than 15% of the voting power of our outstanding voting stock from engaging
in certain business combinations with us. However, our amended and restated certificate of incorporation provides that we are not subject
to Section 203 of Delaware General Corporation Law.

The existence of the foregoing provisions and
anti-takeover measures could limit the price that investors might be willing to pay in the future for shares of our common stock. They
could also deter potential acquirers of our company, thereby reducing the likelihood that you could receive a premium for your common
stock in an acquisition.

Our common stock could be further diluted as the result of the
issuance of additional shares of common stock, warrants, options or other convertible securities. Future sales of shares of our common
stock in the public market, or the perception that such sales could occur, have caused and could in the future cause our stock price
to fall.

In the past, we have issued common stock and convertible securities
in order to raise capital, including pursuant to our “at the market” offering program. We have also issued common stock, restricted
stock units and options as compensation for services and incentive compensation for our employees, directors and certain vendors. We have
shares of common stock reserved for issuance upon the exercise of certain of these securities and may increase the shares reserved for
these purposes in the future. Our issuance of additional common stock, convertible securities, options or warrants, including through
our “at the market” offering program, could affect the rights of our stockholders, could reduce the market price of our common
stock or could obligate us to issue additional shares of common stock to certain of our stockholders.

78

Further, sales of a substantial number of shares
of our common stock in the public market, or the perception that these sales could occur could cause the market price of our common stock
to decline. A substantial majority of the outstanding shares of our common stock are freely tradable without restriction or further registration
under the Securities Act. We cannot predict the effect that future sales of common stock or other equity-related securities would have
on the market price of our common stock.

We do not anticipate paying any cash dividends on our capital
stock in the foreseeable future; capital appreciation, if any, will be your sole source of gain as a holder of our common stock.

We have never declared or paid cash dividends
on shares of our common stock. As noted above, our