Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 26

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 26
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 Nasdaq, the Company may at any time during the term of the Series A Warrants, with the prior written consent of the holders of the Series A Warrants representing at least a majority of the Series A Warrant Shares then underlying the Series A Warrants, reduce the then current exercise price of the Series A Warrants to any amount and for any period of time deemed appropriate by the board of directors of the Company. 14 While approval of this Proposal 1 will expressly authorize the board of directors of the Company to reduce the exercise price of the Series A Warrants for any period of timed deemed appropriate if the consent of the requisite holders of the Series A Warrants is obtained, the voluntary reduction and any other transaction that might occur in connection with or close in time to the voluntary reduction would still be subject to Nasdaq Listing Rules and regulations as may be in effect at the time of such reduction. As noted above, in approving this Proposal 1, stockholders are expressly approving the issuance of the shares underlying the Series A Warrant at a price below the Minimum Price pursuant to Nasdaq Listing Rule 5635(d). However, even if this Proposal No. 1 is approved, other Nasdaq Listing Rules will still apply to any voluntary reduction to the extent shares of our common stock are the traded on Nasdaq at the time of such voluntary reduction. For instance and by example only, such a reduction likely could not occur in connection with a change of control transaction in accordance with Nasdaq Listing Rule 5635(b) absent prior stockholder approval. Nor could such a reduction likely occur in connection with an acquisition pursuant to Nasdaq Listing Rule 5635(a) absent prior stockholder approval for such an acquisition. (The Company does not currently have plans for such acquisitions or change in control transactions.) In addition and as noted above, Nasdaq has broad discretion in reviewing transactions, particularly, to the extent Nasdaq determines there is a need to protect public interests. To the extent any modification was done fraudulently or in a manner deemed to be overly disadvantageous to existing shareholders, Nasdaq could exercise its discretion to act with respect to such transactions and allege that such transactions are not in the public interest as required by Nasdaq Listing Rules pursuant to its broad discretionary authority. Consequences of violating Nasdaq Listing Rules may result in a voluntary reduction having to be unwound or modified in order to comply with Nasdaq Listing Rules (which may not be possible or feasible), censure or delisting from Nasdaq. Nasdaq will often exercise