Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 63

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 63
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 pursuant to Section 1202 of the Code, or (v) persons that do not hold our common stock as “capital assets” (generally, property held for investment). This summary does not address backup withholding and information reporting. This summary does not address U.S. holders who beneficially own common stock through a “foreign financial institution” (as defined in Code Section 1471(d)(4)) or certain other non -U.S. entities specified in Code Section 1472. This summary does not address tax considerations arising under any state, local or foreign laws, or under federal estate or gift tax laws. If a partnership (or other entity classified as a partnership for U.S. federal income tax purposes) is the beneficial owner of our common stock, the U.S. federal income tax treatment of a partner in the partnership (or member of such other entity) will generally depend on the status of the partner (or member) and the activities of the partnership (or such other entity). Partnerships (or entities classified as partnerships for U.S. federal income tax purposes) that hold our common stock, and partners (or members) in such partnerships (or such other entities), should consult their own tax advisors regarding the U.S. federal income tax consequences of the Reverse Stock Split. Each U.S. holder should consult his, her or its own tax advisors concerning the particular U.S. federal tax consequences of the Reverse Stock Split, as well as the consequences arising under the laws of any other taxing jurisdiction, including any foreign, state, or local income tax consequences. General Tax Treatment of the Reverse Stock Split The Reverse Stock Split is intended to qualify as a “reorganization” under Section 368 of the Code that is intended to constitute a “recapitalization” within the meaning of Section 368(a)(1)(E) of the Code for U.S. federal income tax purposes. Assuming the Reverse Stock Split qualifies as a reorganization, a U.S. holder generally will not recognize gain or loss upon the exchange of our shares for a lesser number of shares, based upon the Reverse Stock Split ratio. However, a U.S. holder who receives a “round up” from a fractional share to a whole share may have a tax event based on the value of the “rounded up” share provided to the U.S. holder. We believe such tax event will be minimal or insignificant for most U.S. holders. A U.S. holder’s aggregate tax basis in the lesser number of shares received in the Reverse Stock Split will