Incannex cancels all outstanding Series A warrants following ATM execution

Incannex (IXHL) Healthcare canceled all remaining Series A Warrants pursuant to its letter agreements with the holders of the Series A Warrants, having raised the full amount of capital required to complete the cancellation through its At-The-Market facility. This follows the Company’s May 28, announcement of binding agreements to cancel the final 172M Series A Warrants in exchange for $12.2M. Combined with a tranche canceled earlier in May, the initiative removes 347.2M shares from potential future dilution, fully eliminating the Series A Warrant overhang.