Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 41

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 41
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 of awards under the Amended 2023 Plan would increase automatically on September 30, 2025 in an amount equal to 20% of the then outstanding shares of common stock on September 30, 2025, and further increase on the first day of each Fiscal Year beginning with the 2026 Fiscal Year commencing on July 1, 2026 and ending on (and including) the first day of the 2032 Fiscal Year commencing on July 1, 2032, in an amount equal to 5% of the then -outstandingshares of common stock on such dates. Accordingly, the number of shares reserved for issuance pursuant to the Amended 2023 Plan could substantially increase depending on the extent to which the Company issues new shares of common stock prior to each Evergreen Increase. For example, if prior to the first Evergreen Increase on September 30, 2025 the holders of Series A Warrants exercise all of the Series A Warrants for an aggregate of 347,222,700shares of our common stock (assuming full adjustment of the exercise price equal to the Floor Price of $0.216 per share and exercise pursuant to the zero exercise price provisions in the Series A Warrants), the holders of Pre -FundedWarrants exercise all of the Pre -fundedWarrants for an aggregate of 1,887,045shares of our common stock and the Company issues no other new shares of common stock, the Evergreen Increase on September 30, 2025 would increase the number of shares reserved under the Amended 2023 Plan by 81,819,509shares of our Common Stock, which would represent 20% of the shares of common stock then outstanding and 319% of the 27,546,753shares of common stock outstanding as of April 14, 2025. Summary of Material Features of the Amended 2023 Plan. The following is a brief summary of the Amended 2023 Plan. This summary is qualified in its entirety by reference to the text of the Amended 2023 Plan, a copy of which is attached as Appendix B to this Proxy Statement, and the 2023 Plan, a copy of which is filed as Exhibit 10.5 to our Annual Report on Form 10 -Kfiled with the SEC on September 30, 2024. Purpose.The purpose of the Amended 2023 Plan is to provide a means through which we and our affiliates may attract and