Company: IXHL
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029414
Chunk: 46

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 46
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 ● | any                                                                                            
 other specific terms, preferences, rights, limitations or restrictions of the preferred stock. |

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Unless we specify otherwise in the applicable prospectus supplement, the preferred stock will rank, relating to dividends and upon our liquidation, dissolution or winding up:

| ● | senior                                                                                   
 to all classes or series of our common stock and to all of our equity securities ranking 
 junior to the preferred stock;                                                           |

| ● | on                                                                                          
 a parity with all of our equity securities the terms of which specifically provide that the 
 equity securities rank on a parity with the preferred stock; and                            |

| ● | junior                                                                                             
 to all of our equity securities the terms of which specifically provide that the equity securities 
 rank senior to the preferred stock.                                                                |

The term equity securities does not include convertible debt securities.

Convertible Debenture

Pursuant to the Debenture Purchase Agreement, we agreed to issue 10% original issue discount secured convertible debentures with an aggregate principal amount of up to $10,000,000 at an aggregate purchase price of up to $9,000,000, or the Debentures, divided into three separate tranches. On October 14, 2024, we consummated the closing of the first tranche, in which we issued and sold a Debenture to certain purchasers with an aggregate principal amount of $3,333,333, or the “First Tranche Debenture. The First Tranche Debenture is convertible, subject to certain beneficial ownership limitations, into shares of common stock at a price per share equal to $1.84, provided that if the closing price of our common stock is less than the conversion price for five or more trading days during any 20 trading day period following the issue date, the holder is entitled to convert the First Tranche Debenture at a price per share equal to the lower of (i) the then-current conversion price and (ii) 95% of the lowest daily volume weighted average price of our common stock during the five trading days prior to the delivery by the holder of the applicable notice of conversion, or the Alternate Conversion Price, provided that the Alternate Conversion Price is no less than (i) initially, $1.50, (ii) thereafter, 50% of the closing price of our Common stock on April 14, 2025, and (iii) thereafter, 50% of the closing price of our Common stock on October