Company: IXHL
Filing Date: 2025-04-16
Form Type: S-1/A
Source: 0001213900-25-032577
Chunk: 51

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-16
Form: S-1/A
Chunk 51
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2025, we repaid in full the outstanding First Tranche Debenture by making a cash payment to Arena Offshore of
$3,851,111.00, representing the outstanding principal, interest, amounts and redemption premiums due as of February 28, 2025. In connection
with the repayment of the First Tranche Debenture, the Debenture Purchase Agreement, ELOC Purchase Agreement and the Security Documents (as defined in the Debenture
Purchase Agreement) were terminated except with respect to the indemnification set forth
therein. On March 10, 2025, the exercise price of the First Tranche Warrant was reset to the par value of our Common Stock, which is $0.0001
per share. The number of warrant shares underlying the First Tranche Warrant remain unchanged.

The First Tranche Debenture
and the First Tranche Warrant were offered and sold to the investors in reliance upon the exemption from registration provided by Section
4(a)(2) of the Securities Act.

On September 6, 2024, we entered
into the ELOC Purchase Agreement with Arena Global, pursuant to which Arena Global committed to purchase up to $50,000,000 of our Common
Stock at our direction from time to time, subject to the satisfaction of the conditions in the ELOC Purchase Agreement. On December 6,
2024, we issued to Arena Global 142,403 shares of our Common Stock as a commitment fee (the “Commitment Fee”) pursuant to
the ELOC Purchase Agreement. On January 16, 2025, we issued to Arena Global 10,346 true-up shares (the “True-Up Shares;” together
with the Commitment Fee, the “Arena Shares”) pursuant to the ELOC Purchase Agreement. In connection with the repayment of
the First Tranche Debenture, the ELOC Purchase Agreement was terminated except with respect to the indemnification and registration rights
set forth therein. On March 10, 2025, the exercise price of the ELOC Warrant was reset to the par value of our Common Stock, which is
$0.0001 per share. The number of warrant shares underlying the ELOC Warrant remain unchanged.

The ELOC Warrant and the Arena
Shares were offered and sold to the investors in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities
Act.

On March 7, 2025, the Company