Company: IXHL
Filing Date: 2025-03-10
Form Type: 8-K
Source: 0001213900-25-022279
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Company: Incannex Healthcare Inc.
Filing Date: 2025-03-10
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into
a Material Definitive Agreement.

On
March 7, 2025, Incannex Healthcare Inc. (the “ Company”) entered into a private placement (the “ Private Placement”)
pursuant to a securities purchase agreement (“ Purchase Agreement”) with certain institutional investors (the “ Purchasers”)
for the purchase and sale of approximately $12.5 million in gross proceeds of 9,687,045 shares (the “ Shares”) of the Company’s
common stock, par value $0.0001 per share (the “ Common Stock”) for a purchase price of $1.08 per share of Common Stock (and,
in lieu thereof, pre-funded warrants (the “ Pre-Funded Warrants”) to purchase up to 1,887,045 shares (the “ Pre-Funded
Warrant Shares”) of Common Stock) at a price of $1.0799 per Pre-Funded Warrant and Series A common stock warrants (the “ Series
A Warrants” and together with the Pre-Funded Warrants, the “ Warrants”) to purchase up to 11,574,090 shares of Common
Stock, subject to adjustment as described therein (the “ Series A Warrant Shares” and together with the Pre-Funded Warrant
Shares, the “ Warrant Shares”) of Common Stock at an initial exercise price of $2.16 per share. The Shares, the Series A Warrants,
Series A Warrant Shares, the Pre-Funded Warrants and the Pre-Funded Warrant Shares are collectively referred to as the “ Securities.”
The entire transaction was priced at the market under Nasdaq rules.

The Series A Warrants
are exercisable following stockholder approval and expire two and one-half (2.5) years after the date of stockholder approval. The
exercise price and number of shares of Common Stock issuable upon exercise of the Series A Warrant are subject to adjustment for
recapitalizations and similar events and based on the trading price of the Common Stock for certain periods following the
stockholder approval, each as described in the Series A Warrant. Adjustment of the Series A Warrant exercise price is currently subject to a floor price of $1.08 per share and
will be adjusted to a floor price of $0.216 per share following stockholder approval. Under the alternative cashless exercise option, the holder of the Series A Warrant has the right
to receive an aggregate number of shares equal