Company: BDRX
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001214659-25-016821
Chunk: 53

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-11-17
Form: F-1
Chunk 53
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 Depositary Share. The Pre-Funded Warrants are exercisable at any time after
their original issuance until they are exercised in full. Each Series L Warrant will have an initial exercise price equal to 225 %
of the public offering price per Unit. The Series L Warrants will be immediately exercisable upon issuance and will expire two and one-half
(2.5) years after the original issuance date. The exercise price and the number of Depositary Shares issuable upon exercise are subject
to adjustment in the event of share dividends, share splits, reorganizations, or similar events affecting our Ordinary Shares and the
exercise price. In addition, at 4:01 p.m. Eastern time on the First Reset Date, the exercise price of the Series L Warrants will be reset
to a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest daily VWAP during the
period beginning on the 3rd trading day after the date of issuance and ending on the First Reset Date, and (b) 50% of Latest NASDAQ Closing
Price, while the number of Depositary Shares issuable upon exercise will be increased such that the aggregate exercise price of the Series
L Warrants on the issuance date for the Depositary Shares underlying the Series L Warrants then outstanding shall remain unchanged. Subsequently,
at 4:01 p.m. Eastern time on the Second Reset Date, the exercise price of the Series L Warrants will be reset to a price equal to the
lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest VWAP during the period beginning on the 8th trading
day after the date of issuance and ending on the Second Reset Date, and (b) 30% of the Latest NASDAQ Closing Price, while the number of
Depositary Shares issuable upon exercise will be increased such that the aggregate exercise price of the Series L Warrants on the issuance
date for the Depositary Shares underlying the Series A Warrants then outstanding shall remain unchanged. Any reduction to the exercise
price of the Series L Warrants and resulting increase in the Depositary Shares underlying the Series L Warrants will be subject to a floor
price. The floor price will be equal to 30% of the Latest NASDAQ Closing Price. For the avoidance of doubt, the lower that the stock price
of our Depositary Shares is