Company: IXHL
Filing Date: 2025-03-18
Form Type: PRE 14A
Source: 0001213900-25-024754
Chunk: 28

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-18
Form: PRE 14A
Chunk 28
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iii) warrants outstanding (other than the Pre-Funded
Warrants and Series A Warrants) to purchase an aggregate of 3,017,095 shares of common stock with a weighted average exercise price of
$13.75 per share, (iv) 2,793,876 shares of common stock reserved for issuance pursuant to future grants under our equity incentive plans,
(v) 1,887,045 shares of common stock issuable upon exercise of outstanding Pre-Funded Warrants and (vi) up to 347,222,700 shares of common
stock issuable upon exercise of the Series A Warrants assuming full adjustment of the exercise price to the Floor Price, approval of the
Warrant Stockholder Approval in Proposal No. 1 and this Proposal No. 2 and exercise pursuant to their alternative cashless exercise provisions.

Following the approval and
filing of the Certificate of Amendment, we may explore additional financing opportunities or strategic transactions that would require
the issuance of additional shares of our common stock, but no such plans are currently in existence and we have not begun any negotiations
with any party related thereto. If we issue additional shares, the ownership interest of holders of our capital stock will be diluted.
Other than as set forth above or elsewhere in this proxy statement, we have no current plans, proposals or arrangements to issue any of
the additional authorized shares of common stock that would become available as a result of the filing of the Certificate of Amendment.

Interest of Certain Persons in Matters to Be Acted Upon

Except with respect to their
continued employment as officers or directors of the Company, no director or executive officer has any substantial interest, direct or
indirect, by security holdings or otherwise, in this Proposal that is not shared by all of our other stockholders.

Procedure for Implementing the Amendment

The increase in our authorized
shares of common stock will become effective upon the filing of the Certificate of Amendment or such later time as specified in the filing
with the Secretary of State of Delaware. The timing of the filing of the Certificate of Amendment will be determined by the Board based
on its evaluation as to when such action will be the most advantageous to the Company and our stockholders.

Required Vote

For the Charter Amendment
Proposal to be approved, the number of votes cast FOR the proposal must exceed the number of votes cast AGAINST the proposal; provided
that our common stock meets the Listing Condition, in which case, abstentions with respect to the Amendment Proposal will not be considered
“votes