Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 29

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 29
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 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 -FundedWarrant 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. In order to comply with Nasdaq Listing Rule 5635(d) and permit the holders to exercise the Series A Warrants, our stockholders need to approve the issuance of the Series A Warrants and the Series A Warrant Shares issuable upon exercise of the Series A Warrants together with the additional shares of our common stock that may become issuable upon adjustments provided for under the Series A Warrants and the provisions of the Series A Warrants indicated above. Until we obtain the Warrant Stockholder Approval in order to comply with Nasdaq Listing Rule 5635(d), the Series A Warrants are not exercisable. Importantly and as noted above, if we fail to obtain the full Warrant Stockholder Approval, we are required to seek stockholder approval every 60 days following such a failure (and following any such future failure) until we obtain the full Warrant Stockholder Approval required for the full exercise of the Series A Warrants pursuant to the terms of the Series A Warrants and failure to comply with this term could expose the Company to liability. So, if we fail to obtain the Warrant Stockholder Approval at the Special Meeting and are forced to hold additional meetings of stockholders to obtain the Warrant Stockholder Approval, the costs and expenses associated with again or repeatedly seeking the Warrant Stockholder Approval could materially adversely impact our ability to fund or continue our operations, including the advancement of our clinical trials, regulatory approvals for, and commercialization