Incannex Healthcare Inc., a clinical-stage biopharmaceutical company, has announced a potential significant reduction of up to 50.4% in its Series A Warrants. The agreements, signed on May 15, 2025, allow Incannex to decrease the shares of common stock underlying these warrants. This move, pending stockholder approval at a meeting scheduled for May 27, aims to minimize dilution for shareholders. The company plans to use proceeds from its at-the-market sales agreement to compensate warrant holders for the cancellation of shares. CEO Joel Latham emphasized the company's commitment to advancing treatments like IHL-42X for obstructive sleep apnea.
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