Company: IXHL
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043682
Chunk: 61

Company: Incannex Healthcare Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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to the September 2024 Purchase Agreement. The First Tranche Debenture matures on April 14, 2026. In addition, we issued a warrant to Arena
Investors exercisable for up to 453,749 shares of common stock (the “First Tranche Warrant”). The exercise price of the First
Tranche Warrant is $1.89 per share.

21

The net proceeds received from the issuance of
the First Tranche Debenture, after deduction of expenses reimbursable to the Arena Investors, was $2,877,588.

Pursuant to the September 2024 Purchase Agreement,
we and Arena Opportunities entered into a registration rights agreement (the “Registration Rights Agreement”), pursuant to
which we agreed to file with the SEC a registration statement on Form S-3 after the closing of each tranche of the debenture to register
for resale the shares of common stock issued upon conversion of the applicable debenture and the shares issuable upon exercise of any
warrants issued in the applicable closing, within 20 calendar days after the closing date of the first tranche (the “Filing Deadline”)
and to have such registration statement declared effective within 60 days after the Filing Deadline (or in the event of full review by
the SEC, within 90 calendar days after the Filing Deadline). On November 6, 2024, we filed with the SEC the Resale Registration Statement,
registering for resale up to 61,389,758 shares of common stock, including up to 10,101,009 shares of common stock issuable upon conversion
of the First Tranche Debenture and up to 453,749 shares of common stock issuable upon the exercise of the First Tranche Warrant.

Facility Agreement

On October 9, 2024, we entered into a Facility
Agreement (the “Facility Agreement”) with FC Credit Pty Ltd (“FC Credit”), pursuant to which FC Credit will provide
a term loan facility for up to $4.7 million (the “Loan Facility”). On October 10, 2024, we received approximately $4.6 million
as the initial drawdown amount, after deducting certain fees payable by us under the Facility Agreement. The Loan Facility has a term
of 12 months from the date of the initial drawdown (the “Final Repayment Date”). Interest under the Loan Facility will accrue
at the rate of 14.5% per