Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 30

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 30
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 upon a fundamental transaction, the holders of the Series A Warrants
will have the right to require us to repurchase their respective Series A Warrants at the Black-Scholes value; provided, however, that,
if the fundamental transaction is not within our control, including not approved by our Board, then the holder will only be entitled to
receive the same type or form of consideration (and in the same proportion), at the Black-Scholes value of the unexercised portion of
the Series A Warrant that is being offered and paid to the holders of our common stock in connection with the fundamental transaction.

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Purchase Rights.If we grant, issue
or sell any options, convertible securities, or rights to purchase stock, warrants, securities or other property on a pro rata basis
to the record holders of our common stock (such rights, the “Purchase Rights”), then each holder of a Warrant will
be entitled to participate in this offering of Purchase Rights as if the holder of a Warrant were a holder of our common stock. The
amount of Purchase Rights that a holder of a Warrant could acquire would be the amount of Purchase Rights the holder could have
acquired if the holder of a Warrant had held the number of shares of common stock acquirable upon complete exercise of their Warrant
immediately before the date on which a record date is taken for the grant, issuance or sale of such Purchase Rights, or, if no such
record is taken, the date as of which the record holders of our common stock is determined for the grant, issue or sale of such
Purchase Rights. The number of shares issuable to Series A Warrant holders will be without regard to any 4.99% or 9.99% beneficial ownership limitation
and the number issuable to the Pre-Funded Warrant holders in excess of these blockers will be held in abeyance until such time as the
issuance would be in compliance with these blocker provisions.

Governing Law.The Warrants are governed
by New York law.

Purpose of the Warrant Stockholder Approval

Since the total number of shares in the Private
Placement, including the potential issuance of the Warrant Shares, would be deemed a “20% Issuance,” we are required to obtain
the approval of our stockholders before permitting exercises of the Series A Warrants in order to comply with Nasdaq Listing Rule 5635(d),
as discussed above.

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