IXHL Stock Catalyst: Incannex Healthcare Announces Agreements to Reduce Series A Warrants by 50.4%

Incannex Healthcare Inc. (Nasdaq: IXHL) announced on May 16, 2025, that it has entered into agreements with the outstanding holders of its Series A Warrants. These agreements allow the company to potentially reduce up to 50.4% of the shares of common stock underlying its previously issued Series A Warrants.

Under the agreements, Incannex Healthcare will pay $12.5 million to the warrant holders. In exchange, the company will reduce the number of shares underlying the warrants by 5,833,333 shares. The remaining warrants will cover 175,000,000 shares at an exercise price of $0.216 per share.

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