Company: IXHL
Filing Date: 2025-03-18
Form Type: PRE 14A
Source: 0001213900-25-024754
Chunk: 16

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-18
Form: PRE 14A
Chunk 16
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 A Warrants above the price set forth in clause (ii) of the definition of Floor Price below;                                              |

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| (b) | to consent to any adjustment to the exercise price and/or number of shares of common stock underlying                                     
 the Series A Warrants in the event of a Share Combination Event, as defined and described below, without regard to any limitations        
 upon exercise of the Series A Warrants relating to the Warrant Stockholder Approval and/or the provisions prohibiting adjustments in such 
 Series A Warrants above the price set forth in clause (ii) of the definition of Floor Price below;                                        |

| (c) | to consent to any adjustment to the exercise price of the Series A Warrants in the event of a voluntary adjustment described below; |

| (d) | to consent to the “alternative cashless exercise” provision of the Series A Warrants, in each                                          
 case without regard to any limitations upon exercise of the Series A Warrants relating to the Warrant Stockholder Approval and/or the  
 provisions prohibiting adjustments in such Series A Warrants above the price set forth in clause (ii) of the definition of Floor Price 
 below; and                                                                                                                             |

| (e) | to consent to an increase in the number of shares of our common stock authorized                                                       
 for issuance under our Amended and Restated Certificate of Incorporation from 100,000,000 shares to a minimum of 500,000,000 shares of 
 common stock. We are requesting an increase to 800,000,000 shares of common stock in Proposal No. 2.                                   |

If the Warrant Stockholder
Approval is not obtained, the Series A Warrants will not be exercisable. At present, we do not currently have sufficient authorized shares
of common stock for the full exercise of the Series A Warrants, and in the Private Placement, have agreed not to complete a reverse stock
split during the 180-day period following closing of the Private Placement unless we are expressly required to effect a reverse split
as a result of changes in applicable laws effected after the closing of the Private Placement related to the listing requirements of the
trading market (currently the Nasdaq Stock Market LLC). So, we must seek stockholder approval for an increase in the number of authorized
shares of our common stock in order to obtain the portion of the Warrant Stockholder Approval in (e) above. If stockholders do not approve
both Proposal No. 1 and Proposal