Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 38

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 38
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 for issuance under our April 7, 2025 at-the-market offering Sales Agreement with
A.G.P./Alliance Global Partners and (vii) 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 zero exercise price provisions.
Pursuant to Proposal No. 3, we are also seeking approval of an amendment to our 2023 Plan to (x) increase the number of shares authorized
for the issuance of awards by 2,700,000 and (y) to incorporate an evergreen provision to increase the number of shares under the 2023
Plan in future years (20% of our then-outstanding shares of Common Stock on September 30, 2025 and 5% of our then-outstanding shares of
Common Stock on the first day of each Fiscal Year from 2026 through 2032).

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