Company: BDRX
Filing Date: 2025-12-08
Form Type: F-1/A
Source: 0001214659-25-017719
Chunk: 22

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-12-08
Form: F-1/A
Chunk 22
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Additionally, under the
zero cash exercise price option of the Series L Warrants, during the period of 90 calendar days following the issue date of the Series
L Warrants, a holder of the Series L Warrant has the right to receive, without payment of any additional cash to the Company, an aggregate
number of Depositary Sharesequal to the product of (x) the aggregate number of Depositary Sharesthat would be issuable upon a cash exercise of the Series L Warrant and (y) two (2). The Series L Warrants also include
exercise price reset provisions, which could result in the issuance of a significantly higher number of shares upon exercise. 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 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 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 Sharesunderlying 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 Sharesunderlying the Series L Warrants then outstanding shall remain unchanged. Any reduction to the exercise price of the Series
L Warrants and resulting increase in the Depositary Sharesunderlying 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