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Incannex Healthcare (NASDAQ: IXHL) ends $108.4M ATM and spotlights Phase 2 study

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Incannex Healthcare Inc. has ended its at-the-market common stock sales arrangement with Curvature Securities and A.G.P./Alliance Global Partners, which allowed it to sell shares from time to time through these agents. Over the life of this Sales Agreement, Incannex raised approximately $108.4 million in aggregate gross proceeds, and the arrangement was terminable at will by the company with no penalty.

The company also updated its corporate investor presentation, now available via its investor relations website and furnished as an exhibit, and issued a press release describing an enhanced Phase 2 dose-optimisation study, which is provided as another exhibit.

Positive

  • None.

Negative

  • None.

Insights

Incannex closes a completed ATM program and highlights a Phase 2 trial.

Incannex Healthcare ended its at-the-market equity Sales Agreement with Curvature Securities and A.G.P. after using it to raise about $108.4 million in gross proceeds. The agreement was cancellable at will without penalty, suggesting this is a discretionary step rather than the result of a default or dispute.

The company simultaneously refreshed its corporate presentation and highlighted a press release on an enhanced Phase 2 dose-optimisation study. These materials emphasize clinical development progress but do not add financial guidance in this excerpt. Overall, the events look administrative and informational, with financial impact largely realized already through prior ATM sales.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

  

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 11, 2026

 

Incannex Healthcare Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   001-41106   93-2403210
(State or other Jurisdiction
of Incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

Rialto South Tower
Level 23, 525 Collins Street
Melbourne VIC 3008
Australia
  Not applicable
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s Telephone Number, including Area Code: +61 409 840 786

 

(Former Name or Former Address, if Changed Since Last Report): Not Applicable

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol   Name of exchange on which registered
Common Stock, $0.0001 par value per share   IXHL   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

  

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 1.02. Termination of a Material Definitive Agreement

 

As previously disclosed, on May 27, 2025, Incannex Healthcare Inc. (the “Company”) entered into an Amended and Restated Sales Agreement (the “Amended and Restated Sales Agreement”) by and among the Company, Curvature Securities, LLC (“Curvature”) and A.G.P./Alliance Global Partners (“A.G.P.” and together with Curvature, the “Sales Agents”), which amended that certain Sales Agreement, dated April 7, 2025, by and between the Company and A.G.P. (the “Original Sales Agreement” and collectively, with the Amended and Restated Sales Agreement, the “Sales Agreement”), pursuant to which the Company could offer and sell shares of its common stock from time to time through the Sales Agents, acting as the sales agents.

 

On March 11, 2026, the Company and the Sales Agents mutually agreed to terminate the Sales Agreement, effective immediately. During the term of the Sales Agreement, the Company sold shares of its common stock for aggregate gross proceeds to the Company of approximately $108.4 million. The Sales Agreement was terminable at will by the Company with no penalty.

 

Item 7.01 Regulation FD Disclosure.

 

From time to time, the Company presents and/or distributes slides and presentations to the investment community to provide updates and summaries of its business. On March 12, 2026, the Company updated its corporate presentation, which is available on the Investor Relations section of the Company’s website at http://ir.incannex.com. This presentation is also furnished as Exhibit 99.1 to this Current Report on Form 8-K. Information contained on the Company’s website is not incorporated by reference into and should not be considered to be part of this Current Report on Form 8-K

 

The information in Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 8.01. Other Events

 

On March 12, 2026, the Company issued a press release announcing its enhanced Phase 2 dose-optimisation study. A copy of the press release is attached hereto as Exhibit 99.2 and is incorporated by reference herein.

 

Item 9.01. Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Corporate Presentation, dated March 12, 2026.
     
99.2   Press Release of Incannex Healthcare Inc., dated March 12, 2026.
     
104   Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

 

1

 

 

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: March 12, 2026 By: /s/ Joel Latham
    Name: Joel Latham
    Title: Chief Executive Officer and President

 

2

FAQ

What did Incannex Healthcare Inc. (IXHL) terminate in this 8-K?

Incannex Healthcare Inc. terminated its Amended and Restated Sales Agreement with Curvature Securities and A.G.P., which had allowed at-the-market sales of common stock. The termination was effective immediately and carried no penalty for the company under the agreement’s terms.

How much capital did Incannex Healthcare (IXHL) raise under the Sales Agreement?

Incannex Healthcare raised aggregate gross proceeds of approximately $108.4 million through sales of common stock under the Sales Agreement. These shares were sold over the term of the at-the-market program via Curvature Securities and A.G.P. acting as sales agents.

Why is the end of Incannex Healthcare’s Sales Agreement notable for IXHL investors?

Ending the at-the-market Sales Agreement removes an ongoing equity issuance mechanism after Incannex raised about $108.4 million. This means future equity sales under that specific program will cease, potentially affecting how the company accesses additional capital going forward.

What new investor information did Incannex Healthcare (IXHL) provide?

Incannex updated its corporate presentation and furnished it as an exhibit, also hosting it on its investor relations website. The presentation offers refreshed information and summaries about the company’s business and strategy for the investment community to review.

What clinical development update did Incannex Healthcare (IXHL) reference?

Incannex referenced a press release announcing its enhanced Phase 2 dose-optimisation study. The press release, attached as an exhibit, provides more detail on this clinical program, which is part of the company’s broader development pipeline in its therapeutic focus areas.

Are the new Incannex (IXHL) presentation and press release considered filed with the SEC?

The updated corporate presentation and the Phase 2 press release are furnished, not filed, under securities laws. They are not deemed filed under Section 18 of the Exchange Act unless specifically incorporated by reference into another registration statement or filing.

Filing Exhibits & Attachments

5 documents
Incannex Healthcare Ltd

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