Incannex cancels 50.4% of Series A Warrants, reduces potential dilution from 175M shares

Incannex Healthcare Inc.

Raised $16.7M gross via ATM; used $12.5M to cancel up to 5,841,038 Series A Warrants (50.4%).
Cancellation eliminates overhang that could have caused issuance of 175.2M additional shares.
CEO Joel Latham says move puts shareholders in stronger position ahead of Phase 2 IHL-42X data.
Company plans further capital structure improvements; views this as signal of long-term value focus.

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