Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 57

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 57
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 Reverse Stock Split will be reduced (but in no event increased) to the Event Market Price and the number of Series A Warrant Shares issuable upon exercise of a Series A Warrant will be increased such that the aggregate exercise price, after taking into account the decrease in the exercise price, will be equal to the aggregate exercise price on the date of issuance of the Series A Warrants for the remaining Series A Warrant Shares then issuable pursuant to the Series A Warrant; provided, however, that in no event will the Event Market Price be lower than the Floor Price. As a result, the aggregate number of shares of common stock underlying all of the Series A Warrants, may increase from 11,574,090 to up to 115,740,900, assuming full adjustment of the exercise price to the Floor Price and before giving effect to the zero exercise price provision. Assuming full adjustment of the exercise price to the Floor Price, the aggregate number of shares of common stock issuable upon the exercise of all of the Series A Warrants pursuant to the zero exercise price provisions therein would be 347,222,700. As of the closing on March 10, 2025, we issued Pre -FundedWarrants to purchase up to 1,887,045shares of our common stock and Series A Warrants to purchase up to 11,574,090shares of our common stock. The issuance of those 347,222,700 additional shares would be approximately 1,260% of the 27,546,753shares of our Common Stock outstanding as of April 11, 2025 and 92.19% of our total shares of common stock outstanding assuming the exercise of all Pre -FundedWarrants and the issuance of the maximum number of shares of common stock that may be issuable upon exercise of the Series A Warrants. The Reverse Stock Split would be effected simultaneously for all outstanding shares of our common stock. Except with respect to the adjustment of the Series A Warrants and to the extent that the Reverse Stock Split results in any of our stockholders owning fractional shares, the Reverse Stock Split would affect all of our stockholders uniformly and would not change any stockholder’s percentage ownership interest in our company. Following approval of the Reverse Stock Split Proposal, existing stockholders will likely suffer substantial dilution in their ownership interests as a result of the potential issuance of shares of common stock upon exercise of the Series A Warrants. We will not issue any fractional shares as a result of the Reverse Stock