Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 21

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 21
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500,000,000shares of common stock. We are requesting an increase to 800,000,000shares of common stock in Proposal No. 2. If the Warrant Stockholder Approval is not obtained, the Series A Warrants will not be exercisable. At present, we do not currently have sufficient authorized shares of common stock for the full exercise of the Series A Warrants, and in the Private Placement, have agreed not to complete a reverse stock split prior to September 6, 2025 unless we are expressly required to effect a reverse split as a result of changes in applicable laws effected after the closing of the Private Placement related to the listing requirements of the trading market (currently the Nasdaq Stock Market LLC) 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. So, are seeking stockholder approval for an increase in the number of authorized shares of our common stock in order to obtain the portion of the Warrant Stockholder Approval in (e) above. If stockholders do not approve both Proposal No. 1 and Proposal No.2, the Series A Warrants will not be exercisable upon completion of the Special Meeting. If stockholders approve both Proposal No. 1 and Proposal No. 2 and the number of outstanding shares of the Company increase prior to September 30, 2025, then the evergreen provision of the amended 2023 Plan (as discussed below) will automatically increase the number of shares available under the 2023 Plan by 20% of the then outstanding shares, in accordance with its terms. Exercisability.The Pre -FundedWarrants were and are exercisable at any time after their original issuance until they are exercised in full. The Series A Warrants are not currently exercisable, will be exercisable following and subject to the Warrant Stockholder Approval and will expire two and one -half(2.5) years after the date we obtain the full Warrant Stockholder Approval. Each of the Warrants will be exercisable, at the option of each holder, in 12 whole or in part by delivering to us a duly executed exercise notice accompanied by payment in full in immediately available funds for the number of shares of common stock subscribed for upon such exercise (except in the case of a cashless exercise as discussed below). Cashless Exercise.The Pre -FundedWarrants are exercisable by cashless exercise, and if a registration statement