Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 19

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 19
---
 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.

<div align='center'>10</div>

Nasdaq

Shares of our common stock are listed on The Nasdaq
Global Market, and as a result, we are subject to rules and regulations of Nasdaq, including, but not limited to, Nasdaq Listing Rule
5635 which requires stockholder approval prior to certain issuances of our common stock and Nasdaq Listing Rule 5101 which provides that
Nasdaq has broad discretionary authority in addition to the enumerated Nasdaq Listing Rules and procedures “in order to maintain
the quality of and public confidence in its market, to prevent fraudulent and manipulative acts and practices, to promote just and equitable
principles of trade, and to protect investors and the public interest.”

Nasdaq Listing Rule 5635(a) requires a
listed company to obtain stockholder approval prior to issuance of securities in connection with the acquisition of the stock or
assets of another company if other than a public officer for cash (i) the number of shares
of common stock or securities of the listed company to be issued is or will be equal to or in excess of (x) 20% of the number of
shares of common stock of the listed company outstanding before the issuance of the stock or securities or (y) 20% or more of the
voting power of the listed company outstanding before the issuance, or (ii) if an officer, director or substantial shareholder has a
greater than 5% interest in such assets or company to be acquired or in the consderation to be paid (or such persons collectively
have a 10% or greater interest) and the present or potential issuance of common stock of the listed company, or securities
convertible into or exercisable for common stock of the listed company, could result in an increase in outstanding common shares of
the listed company or voting power of the listed company by 5% or more.

Pursuant to Nasdaq Listing Rule 5635(b),
stockholder approval is also required prior to an issuance, or potential issuance, of securities that could result in a “change of control” of a
listed company,