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

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-18
Form: PRE 14A
Chunk 18
---
Fractional Shares.
No fractional shares of common stock will be issued in connection with the exercise of a Warrant. In lieu of fractional shares upon exercise
of a Series A Warrant, we round down to the nearest whole share. As to any fraction of a share issuable upon exercise of a Pre-Funded
Warrant, the Company will, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such
fraction multiplied by the exercise price or round up to the next whole share.

Exercise Limitation.A
holder will not have the right to exercise any portion of the Warrants if the holder (together with its affiliates) would beneficially
own in excess of 4.99% (or, upon election by a holder prior to the issuance of any warrants, 9.99%) of the number of shares of common
stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms
of the Warrants. However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99%, upon at
least 61 days’ prior notice from the holder to us with respect to any increase in such percentage.

<div align='center'>10</div>

Exercise Price. The
exercise price of each Pre-Funded Warrant is $0.0001 per Pre-Funded Warrant Share. The Series A Warrants have an initial exercise price
of $2.16 per Series A Warrant Share. These exercise prices of the Warrants and the number of shares underlying the Warrants are subject
to adjustment as described below.

Adjustments to Exercise Prices and Underlying Shares

: The exercise prices of the Warrants and number of shares underlying the Warrants are subject to adjustment for stock splits,
dividends, combinations, recapitalization certain rights offerings and similar events.

”: At the Adjustment Date (defined below), the exercise price of the Series
A Warrants will be reduced (but in no event increased) to the greater of (I) the Floor Price (as defined below) and (II) the lowest dollar-volume-weighted-average-price
during the period beginning two full trading days prior to the Release Date and ending on the 10 trading day after the Release
Date. Upon any such resulting adjustment of the exercise price in the Series A Warrants, the number of Series A Warrant Shares issuable
under the Series A Warrants will be increased such that the aggregate