Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 35

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 35
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 of the trading market (currently Nasdaq) or we obtain a waiver from the investors who purchased at least 50.1% of the Shares and Pre -FundedWarrants sold in the Private Placement. To date, we are not aware of any such changes to applicable law. So, while a reverse stock split would (unless the terms of the reverse stock split provided otherwise) have the effect of increasing our available authorized shares of common stock, we may be unable to complete a reverse stock split prior to September 6, 2025. Until such time as we otherwise have additional shares of authorized common stock available (which may not occur), if this Proposal No. 2 is not approved, we will no longer be able to raise funds through the issuance of shares of our common stock or through the issuance of instruments convertible into shares of common stock at issuance and would have to raise funds through other means, including as debt financings or strategic transactions. These other means may not be available to us or available to us on reasonable terms. To date, we are not profitable and do not expect to be profitable in the near term. If we are unable to raise funds for this or any reason when and as needed to support our continued research and development plans and our ongoing operations, we may be required to again pause our research and development programs, again curtail our operations, enter into strategic transactions on unfavorable terms and/or cease our operations entirely. Potential Adverse Effects of the Share Increase We will not solicit further authorization by vote of the stockholders for the issuance of the additional shares of common stock proposed to be authorized, except as required by law, regulatory authorities or rules of the Nasdaq or any other stock exchange on which our shares may then be listed. The issuance of additional shares of common stock will likely have the effect of substantially diluting existing stockholder earnings per share, book value per share and voting power. Our stockholders do not have any preemptive right to purchase or subscribe for any part of any new or additional issuance of our securities by virtue of their holding shares of our common stock. Current Plans, Proposals or Arrangements to Issue Shares of Common Stock As noted above, as of April 11, 2025, there were (i) 27,546,753shares of our common stock were issued and outstanding, (ii) restricted stock units outstanding representing the contingent right to receive an aggregate of 670,469shares of common stock, (iii) options and warrants (other than the Pre -FundedW