Incannex Healthcare Files Material Definitive Agreement 8-K
Ticker: IXHL · Form: 8-K · Filed: Sep 10, 2024 · CIK: 1873875
| Field | Detail |
|---|---|
| Company | Incannex Healthcare Inc. (IXHL) |
| Form Type | 8-K |
| Filed Date | Sep 10, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $50 million, $75 million, $10 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, 8-k
TL;DR
Incannex Healthcare just signed a big deal, filing an 8-K for it.
AI Summary
Incannex Healthcare Inc. filed an 8-K on September 9, 2024, reporting the entry into a material definitive agreement. The filing details are for a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934. The company is incorporated in Delaware and its principal executive offices are located in Norwest, NSW, Australia.
Why It Matters
This filing indicates a significant new contract or partnership for Incannex Healthcare, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, the specifics of which are not detailed in this initial filing.
Key Players & Entities
- Incannex Healthcare Inc. (company) — Registrant
- September 9, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- Norwest, NSW, Australia (location) — Address of Principal Executive Offices
FAQ
What is the nature of the material definitive agreement filed by Incannex Healthcare?
The filing states the entry into a material definitive agreement but does not provide specific details about its nature in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on September 9, 2024.
In which state is Incannex Healthcare Inc. incorporated?
Incannex Healthcare Inc. is incorporated in Delaware.
Where are Incannex Healthcare Inc.'s principal executive offices located?
The principal executive offices are located in Norwest, NSW, Australia.
What type of SEC filing is this and what section of the Securities Exchange Act does it pertain to?
This is a Current Report (8-K) filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 1,440 words · 6 min read · ~5 pages · Grade level 15.5 · Accepted 2024-09-10 07:30:22
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share IXHL The Nasdaq
- $50 million — e Investor the obligation to buy, up to $50 million of the Company's shares of common stock
- $75 million — by an issuer with a public float under $75 million when using a "shelf" registration state
- $10 m — ured Convertible Notes ("Notes") for up $10 million, divided into three separate tran
Filing Documents
- ea0214062-8k_incannex.htm (8-K) — 37KB
- ea021406201ex10-1_incannex.htm (EX-10.1) — 346KB
- ea021406201ex10-2_incannex.htm (EX-10.2) — 809KB
- 0001213900-24-077119.txt ( ) — 1639KB
- ixhl-20240909.xsd (EX-101.SCH) — 3KB
- ixhl-20240909_lab.xml (EX-101.LAB) — 33KB
- ixhl-20240909_pre.xml (EX-101.PRE) — 22KB
- ea0214062-8k_incannex_htm.xml (XML) — 4KB
01 Entry
Item 1.01 Entry into a Material Definitive Agreement. Equity line of credit agreement with Arena Business Solutions Global SPC II, Ltd On September 9, 2024, Incannex Healthcare Inc. ("Company") entered into an equity line of credit agreement ("ELOC Agreement") with Arena Business Solutions Global SPC II, Ltd ("Investor"). Under the ELOC Agreement, the Company has the right to sell, and the Investor the obligation to buy, up to $50 million of the Company's shares of common stock ("Common Shares"). The purchase price of the Common Shares is obtained by multiplying by 96% the daily volume weighted average price ("VWAP") on Nasdaq for the trading day specified in the sale notice (same trading day or one trading day following such notice) delivered to the Investor. The ELOC Agreement will be effective for 36 months from its execution. As consideration for the Investor's execution and delivery of the ELOC Agreement, the Company will (i) issue to the Investor, as a commitment fee, that number of Common Shares equal to 250,000 divided by the simple average of the daily VWAP of the Common Shares during the five trading days immediately preceding the effectiveness of a "shelf" registration statement on Form S-3 on which the estimated number of such Common Shares are registered, and (ii) issue a warrant ("ELOC Warrant") exercisable for 585,000 Common Shares, with a five year expiration and an exercise price equal to 115% of the closing price of the Common Shares on the warrant issuance date. However, the Company may not sell Common Shares to the Investor under the ELOC Agreement if (i) a shelf Registration Statement on Form S-3 that registers the Common Shares issuable under the ELOC Agreement has not been declared effective by the Securities and Exchange Commission ("SEC"); (ii) the number of Common Shares issuable to the Investor pursuant to a sale notice causes the aggregate number of Common Shares beneficially owned by the Investor and its affiliates as a result of p
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Purchase Agreement between Incannex Healthcare Inc. and Arena Business Solutions Global SPC II, Ltd, dated as of September 6, 2024. 10.2 Securities Purchase Agreement between Incannex Healthcare Inc. and Arena Investors, LP, dated as of September 6, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Incannex Healthcare Inc. Date: September 10, 2024 /s/ Joel Latham Name: Joel Latham Title: Chief Executive Officer and President 3