NEW YORK and MELBOURNE, Australia, March 12, 2026 (GLOBE NEWSWIRE) -- Incannex Healthcare Inc. (Nasdaq: IHXL), ("Incannex" or the “Company") a clinical-stage biopharmaceutical company leading the way in developing combination medicines, today announced that it has entered into a securities purchase agreement with healthcare-dedicated institutional investors for the issuance and sale of 2,000,000 shares of its common stock (or common stock equivalents in lieu thereof) and accompanying common warrants to purchase up to an aggregate of 2,000,000 shares of its common stock at a combined purchase price of $5.00 per share and accompanying common warrants. The financing is expected to generate aggregate gross proceeds of approximately $10.0 million at closing. If the common warrants issued in the financing are exercised in full for cash, the Company would receive up to an additional $13.0 million in gross proceeds, for total potential gross proceeds of approximately $23.0 million. The offering is expected to close on or about March 13, 2026, subject to the satisfaction of customary closing conditions.
