Company: IXHL
Filing Date: 2025-04-16
Form Type: S-1/A
Source: 0001213900-25-032577
Chunk: 50

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-16
Form: S-1/A
Chunk 50
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 Exchange (“ASX”)
and American Depositary Shares (“ADSs”), each representing 25 ordinary shares of Incannex Australia, traded on the Nasdaq
Global Market.

Following completion of the
redomiciliation, Incannex Australia’s ordinary shares were delisted from the ASX and Incannex assumed Incannex Australia’s
listing on the Nasdaq Global Market.

Pursuant to the redomiciliation,
holders of Incannex Australia’s ordinary shares received one share of Common Stock in Incannex for every 100 ordinary shares held
in Incannex Australia and holders of ADSs in Incannex Australia received one share of Common Stock of Incannex for every 4 ADSs held in
Incannex Australia.

The shares of common stock and options issued by the Company upon implementation of the redomiciliation were exempt from registration under the Securities Act, pursuant to Section 3(a)(10) thereof.

<div align='center'>II-2</div>

On September 6, 2024, we entered
into the Debenture Purchase Agreement with Arena Opportunities, providing for the issuance of (i) the 10% original issue discount secured
convertible debentures (the “Debentures”) of an aggregate principal amount of up to $10,000,000 at an aggregate purchase price
of up to $9,000,000, divided into three separate tranches that are each subject to certain closing conditions, which Debentures were convertible
into shares of Common Stock, and (ii) five-year warrants to purchase the number of shares of Common Stock equal to 25% of the total principal
amount of the related Debenture purchased on the applicable closing date of each tranche divided by 115% of the closing price of our Common
Stock on the trading day immediately preceding that closing date. On October 17, 2024, we consummated the closing of the first tranche,
in which we issued and sold up to 10,101,009 shares of Common Stock issuable upon conversion of our Debenture (the “First Tranche
Debenture”), which is no longer outstanding, to Arena Opportunities with an aggregate principal amount of $3,333,333 at an aggregate
purchase price of $3,000,000 and the First Tranche Warrant to purchase up to 453,749 shares of Common Stock at an exercise price of $1.89
per share. On March 13,