Company: IXHL
Filing Date: 2025-04-07
Form Type: 8-K
Source: 0001213900-25-029418
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Company: Incannex Healthcare Inc.
Filing Date: 2025-04-07
Form: 8-K
Item: Item 1.01
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Item
1.01 Entry into a Material Definitive Agreement.

On April 7, 2025, Incannex Healthcare Inc. (the
“ Company”) entered into a Sales Agreement (the “ Sales Agreement”) with A. G. P./Alliance Global Partners (“ A. G. P.”),
pursuant to which the Company may sell and issue shares of its common stock (the “ Shares”) from time to time through A. G. P.
as the Company’s sales agent (the “ ATM Offering”). The Company has no obligation to sell any of the Shares, and may
at any time suspend offers under the Sales Agreement or terminate the Sales Agreement, pursuant to the terms therein.

Sales of the Shares, if any, under the Sales Agreement
may be made in transactions that are deemed to be “at-the-market” equity offerings as defined in Rule 415 under the Securities
Act of 1933, as amended, including, without limitation, sales made directly on or through The Nasdaq Global Market, the trading market
for the Company’s common stock, or any other existing trading market in the United States for the Company’s common stock,
sales made to or through a market maker other than on an exchange or otherwise, directly to A. G. P. as principal in negotiated transactions
at market prices prevailing at the time of sale or at prices related to such prevailing market prices, and/or in any other method permitted
by law. Subject to the terms and conditions of the Sales Agreement, A. G. P. will use its commercially reasonable efforts to sell the Shares
from time to time based upon the Company’s instructions (including any price, time or size limits or other parameters or conditions
the Company may impose).

Pursuant to the terms of those certain
securities purchase agreements, dated March 7, 2025, by and between the Company and certain institutional investors (the
“ Private Placement”), the Company may not issue shares of common stock pursuant to the Sales Agreement at a price less
than $1.08 per share of common stock prior to the thirtieth day after the Release Date. The
“ Release Date” is the later of (x) the earlier of (i) the effective date of a registration statement registering all of
the securities sold in the Private Placement or (ii) the date that the securities sold in the Private Placement can be sold,
assigned or transferred without restriction or limitation pursuant to Rule 144 or Rule 144A prom