Company: BDRX
Filing Date: 2025-12-11
Form Type: F-1/A
Source: 0001214659-25-017944
Chunk: 47

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-12-11
Form: F-1/A
Chunk 47
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arrant to the holder, then in lieu of making
the cash payment otherwise contemplated to be made to us upon such exercise in payment of the aggregate exercise price, the holder may
elect instead to receive upon such exercise (either in whole or in part) the net number of Depositary Shares determined according to
a formula set forth in the Series L Warrant. On the termination date of the Series L Warrants, the Series L Warrants will be automatically
exercised via cashless exercise.

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Exercise Limitation.
A holder will not have the right to exercise any portion of the Pre-Funded Warrants or Warrants if the holder (together with its affiliates)
would beneficially own in excess of 4.99% (or, upon election of the holder prior to the issuance of any warrants, up to 9.99%) of the
number of shares of our Depositary Shares outstanding immediately after giving effect to the exercise, as such percentage ownership is
determined in accordance with the terms of the warrants. However, any holder may increase or decrease such percentage to any other percentage
not in excess of 9.99%, upon at least 61 days’ prior notice from the holder to us with respect to any increase in such percentage.

Transferability.
Subject to applicable laws, the Series L Warrants and Pre-Funded Warrants may be offered for sale, sold, transferred or assigned without
our consent.

Exchange Listing.
We do not intend to list the Series L Warrants or the Pre-Funded Warrants offered in this offering on any securities exchange or other
trading market. Without an active trading market, the liquidity of these securities will be limited.

Rights as a Shareholder.
Except as otherwise provided in the Series L Warrants or the Pre-Funded Warrants or by virtue of such holder’s ownership of our
Depositary Shares, the holder of a Series L Warrant or Pre-Funded Warrant does not have the rights or privileges of a holder of our Depositary
Shares, including any voting rights, until the issuance of Depositary Shares upon exercise of the warrant. Holders of Pre-Funded Warrants
and Series L Warrants have the right to participate in dividends and certain distributions as specified in the warrant.

Fractional Shares.
No fractional Depositary Shares will be issued upon the exercise of the Pre-Funded Warrants or the Series L Warrants. Rather, the number
of Depositary Shares to be issued upon the exercise of the Pre-Funded W