Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 61

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 61
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, although this is not
the intent of our board of directors. For example, our board of directors might be able to delay or impede a takeover or transfer of control
of our company by causing such additional authorized but unissued shares to be issued to holders who might side with our board of directors
in opposing a takeover bid that the board of directors determines is not in the best interests of our company or our stockholders. The
Reverse Stock Split could therefore have the effect of discouraging unsolicited takeover attempts. By potentially discouraging initiation
of any such unsolicited takeover attempts the Reverse Stock Split could limit the opportunity for our stockholders to dispose of their
shares at the higher price generally available in takeover attempts or that may be available under a merger proposal. The Reverse Stock
Split could have the effect of permitting our current management, including our current board of directors, to retain its position, and
place it in a better position to resist changes that stockholders may wish to make if they are dissatisfied with the conduct of our business.
However, our board of directors is not aware of any attempt to take control of our company and the board of directors did not authorize
the Reverse Stock Split with the intent that it be utilized as a type of anti-takeover device.

Procedure for Effecting a Reverse Stock Split and Exchange of Stock Certificates

If stockholders approve the Reverse Stock Split,
and if our board of directors determines to effect the Reverse Stock Split (with the ratio to be determined in the discretion of the board
of directors within the parameters described), we will file with the Secretary of State of the State of Delaware a certificate of amendment
to our restated certificate of incorporation in the form attached hereto as Appendix C (the “Certificate of Amendment”), reflecting
such reverse stock split ratio determined by the board of directors. The Reverse Stock Split will become effective at the time and on
the date of filing of, or at such later time as is specified in, the Certificate of Amendment, which we refer to as the “effective
time” and the “effective date,” respectively. The effective time of the Certificate of Amendment shall be determined
in the discretion of our board of directors and in accordance with applicable law. Beginning at the effective time, each certificate representing
shares of common stock will be deemed for all corporate purposes to evidence ownership of the number of whole shares into which the shares
previously represented by the certificate were combined pursuant to the Reverse Stock Split.

Our board of directors has approved the amendment