Polar Asset discloses 7% stake in Incannex Healthcare

Polar Asset Management Partners Inc., an Ontario, Canada-based investment advisor, reported beneficial ownership of Incannex Healthcare Inc. common stock.

Rhea-AI Filing Summary

Polar Asset Management Partners Inc., an Ontario, Canada-based investment advisor, reported beneficial ownership of Incannex Healthcare Inc. common stock. The position relates to 900,000 shares issuable upon the exercise of warrants, representing 7.0% of Incannex’s common stock class. Polar reports sole voting and sole dispositive power over these 900,000 warrant-linked shares, with no shared voting or dispositive power. The shares are directly held by Polar Multi-Strategy Master Fund, a Cayman Islands exempted company, for which Polar acts as investment advisor.

Key Figures

Beneficially owned shares: 900,000 shares Ownership percentage: 7.0% Sole voting power: 900,000 shares +2 more

5 metrics

Beneficially owned shares 900,000 shares Shares of Incannex common stock issuable upon exercise of warrants beneficially owned by Polar

Ownership percentage 7.0% Percent of Incannex Healthcare Inc. common stock class reported as beneficially owned

Sole voting power 900,000 shares Number of shares over which Polar has sole power to vote or direct the vote

Sole dispositive power 900,000 shares Number of shares over which Polar has sole power to dispose or direct disposition

Maturity or reference date 06/30/2026 Date referenced in the ownership information block

Key Terms

beneficially owned, sole voting power, sole dispositive power, warrants, +1 more

5 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 900000"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power regulatory

"5 | Sole Voting Power 900,000.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power regulatory

"7 | Sole Dispositive Power 900,000.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

warrants financial

"900000 shares issuable upon the exercise of warrants"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

investment advisor financial

"serves as the investment advisor to Polar Multi-Strategy Master Fund"

An investment advisor is a person or firm that provides personalized guidance on buying, selling and managing investments and often oversees client portfolios for a fee. For investors this matters because the advisor shapes risk, costs and long-term returns, and is typically required by law to act in the client’s best interests — think of them as a financial coach or GPS that helps navigate choices and avoid costly detours.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Incannex Healthcare Inc. (IXHL) does Polar Asset Management report owning?

Polar Asset Management reports beneficial ownership of 7.0% of Incannex Healthcare Inc.’s common stock class. This ownership is tied to 900,000 shares issuable upon exercise of warrants, over which Polar has sole voting and dispositive power.

How many Incannex Healthcare Inc. (IXHL) shares are beneficially owned by Polar Asset Management?

Polar Asset Management reports beneficial ownership of 900,000 Incannex Healthcare Inc. common shares issuable upon exercise of warrants. Polar holds sole voting and sole dispositive power over these warrant-linked shares, with no shared voting or dispositive authority disclosed.

Through which entity does Polar Asset Management hold its Incannex Healthcare Inc. (IXHL) position?

The position is held through Polar Multi-Strategy Master Fund, a Cayman Islands exempted company. Polar Asset Management Partners Inc. acts as the investment advisor to this fund with respect to the 900,000 warrant-linked shares of Incannex common stock.

What type of Incannex Healthcare Inc. (IXHL) securities are reported by Polar Asset Management?

Polar reports beneficial ownership of common stock of Incannex Healthcare Inc., specifically 900,000 shares issuable upon the exercise of warrants. These are not currently outstanding common shares but would become shares if the warrants are exercised.

Does Polar Asset Management share voting or dispositive power over its Incannex Healthcare Inc. (IXHL) holdings?

No. Polar Asset Management reports sole voting power and sole dispositive power over the 900,000 warrant-linked Incannex shares. The filing shows zero shared voting power and zero shared dispositive power for this position.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 09:54 PM Accepted by SEC EDGAR 08/14/2026 - 09:53 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Incannex Healthcare Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

45333F208

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 45333F208

1

Names of Reporting Persons

Polar Asset Management Partners Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 900,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 900,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

900,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Incannex Healthcare Inc.
(b)	Address of issuer's principal executive offices: 8 CENTURY CIRCUIT, STE. 105, NORWEST NSW, NSW, Australia,
Item 2.
(a)	Name of person filing: This statement is filed by Polar Asset Management Partners Inc., a company incorporated under the laws of Ontario, Canada, which serves as the investment advisor to Polar Multi-Strategy Master Fund, a Cayman Islands exempted company ("PMSMF") with respect to the shares directly held by PMSMF.
(b)	Address or principal business office or, if none, residence: 16 York Street, Suite 2900, Toronto, Ontario, M5J 0E6
(c)	Citizenship: Canada
(d)	Title of class of securities: Common Stock, $0.0001 par value per share
(e)	CUSIP Number(s): 45333F208
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	The Reporting Person is an investment fund manager, portfolio manager, exempt market dealer and commodity trading manager registered with the Ontario Securities Commission.
Item 4.	Ownership
(a)	Amount beneficially owned: 900000
(b)	Percent of class: 7.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 900000 shares issuable upon the exercise of warrants
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 900000 shares issuable upon the exercise of warrants
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Polar Asset Management Partners Inc.

Signature:	Andrew Ma
Name/Title:	Chief Compliance Officer
Date:	08/14/2026