Company: IXHL
Filing Date: 2025-03-18
Form Type: PRE 14A
Source: 0001213900-25-024754
Chunk: 17

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-18
Form: PRE 14A
Chunk 17
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 No. 2, the Series A Warrants will not be exercisable upon completion of the Special Meeting.

Exercisability. The
Pre-Funded Warrants were and are exercisable at any time after their
original issuance until they are exercised in full. The Series A Warrants will be exercisable following and subject to the Warrant Stockholder
Approval and until two and one-half (2.5) years after the date we obtain the full Warrant Stockholder Approval. Each of the Warrants will
be exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice accompanied by payment
in full in immediately available funds for the number of shares of common stock subscribed for upon such exercise (except in the case
of a cashless exercise as discussed below).

Cashless Exercise.
The Pre-Funded Warrants are exercisable by cashless exercise, and if
a registration statement registering the issuance of the shares of common stock underlying the Series A Warrants under the Securities
Act is not effective or available following the date of receipt of the full Warrant Stockholder Approval, the holder may, in its sole
discretion, elect to exercise the Warrants through a cashless exercise. Upon cashless exercise the holder would receive upon such exercise
the net number of shares of common stock equal to the quotient obtained by dividing [(A-B) (X)] by (A), where (A) is the volume-weighted
average price per share of common stock, (B) is the exercise price of the Warrant then in effect and (X) is the number of Warrant Shares
that would be issuable upon exercise of the Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash
exercise rather than a cashless exercise.

Alternative Cashless Exercise.
The Series A Warrants also provide for alternative cashless exercise following
the date of receipt of the full Warrant Stockholder Approval (even if a registration statement registering the issuance of shares of common
stock underlying the Series A Warrant is effective) where the holder of a Series A Warrant has the right to receive an aggregate number
of shares equal to the product of (x) the aggregate number of shares of common stock that would be issuable upon a cash exercise of the
Series A Warrant and (y) three (3.0). This amount is subject to proportional adjustments stock splits, dividends, reclassifications and
similar adjustments.