Company: IXHL
Filing Date: 2025-03-18
Form Type: PRE 14A
Source: 0001213900-25-024754
Chunk: 20

Company: Incannex Healthcare Inc.
Filing Date: 2025-03-18
Form: PRE 14A
Chunk 20
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 be reduced (but in no event increased) to the Event Market Price and the
number of Series A Warrant Shares issuable upon exercise of a Series A Warrant (such resulting number, the “Share Combination Issuable
Shares”) will be increased such that the aggregate exercise price, after taking into account the decrease in the exercise price,
will be equal to the aggregate exercise price on the date of issuance of the Series A Warrants for the remaining Series A Warrant Shares
then issuable pursuant to the Series A Warrant; provided, however, that in no event will the Event Market Price be lower than the Floor
Price; and provided further that notwithstanding the foregoing, if one or more Share Combination Events occurred prior to the Warrant
Stockholder Approval being obtained and the reduction of the exercise price was limited by clause (i) of the definition of Floor Price,
once the Warrant Stockholder Approval is obtained, the Exercise Price will automatically be reduced to equal the greater of (x) the lowest
Event Market Price with respect to any Share Combination Event that occurred prior to the Warrant Stockholder Approval being obtained,
and (y) the price determined by reference to clause (ii) of the definition of Floor Price. If one or more Share Combination Events occurs
prior to the Warrant Stockholder Approval being obtained and the reduction of the exercise price to the Event Market Price, once the Warrant
Stockholder Approval is obtained, the exercise price will automatically be reduced to the lowest Event Market Price with respect to any
Share Combination Event that occurred prior to the Warrant Stockholder Approval being obtained and the Share Combination Issuable Shares
will automatically be adjusted to equal the highest such number with respect to any Share Combination Event that occurred prior to the
Stockholder Approval being obtained, provided that in no event will the exercise price be reduced below the Floor Price.

<div align='center'>11</div>

: Subject to the rules and regulations of the Nasdaq Stock Market LLC, the Company may at any
time during the term of the Series A Warrants, with the prior written consent of the holders of the Series A Warrants representing
at least a majority of the Series A Warrant Shares then underlying the Series A Warrants, reduce the then current exercise price of
the Series A Warrants to any amount and for any period of time deemed appropriate by the board of directors of the Company.

:

“Adjustment
Date” means the close of trading on the 11 trading day after the Release Date.

“Floor