Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 11

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 11
---
We do not have a right to commence any sales of Depositary Shares tothe Selling Shareholder under the Purchase Agreement until the Commencement Date (as defined in the Purchase Agreement). Over the 36-month period from and after the Commencement Date (unless the Purchase Agreement is terminated earlier in accordance with its terms),the Selling Shareholder has no right to require us to sell any Depositary Shares tothe Selling Shareholder, butthe
Selling Shareholder is obligated to make purchases as we direct, subject to certain conditions. There are no upper limits on the price per share thatthe Selling Shareholder must pay for Depositary Shares. Actual sales of Depositary Shares tothe Selling Shareholder will depend on a variety of factors to be determined by us from time to time, including, among others, market conditions, the trading price of our Depositary Shares and determinations by us as to the appropriate sources of funding for us and our operations.

At any time from and after the Commencement Date, on any business day on which the previous business day’s closing sale price of Depositary Shares was equal to or greater than $1.00, or the Purchase Date, we may direct the Selling Shareholder to purchase a specified number of Depositary Shares, or a Fixed Purchase, not to exceed $200,000, at a purchase price equal to the lesser of 95% of (i) the daily volume weighted average price, or VWAP, of the Depositary Shares for the five trading days immediately preceding the applicable Purchase Date for such Fixed Purchase and (ii) the lowest sale price of a Depositary Share on the trading day immediately preceding the Purchase Date.

In addition, at any time from and after the Commencement Date, on any business day on which the previous business day’s closing sale price of the Depositary Shares is equal to or greater than $1.00 and such business day is also the Purchase Date for a Fixed Purchase of an amount of Depositary Shares not less than the applicable Fixed Purchase Maximum Amount (as defined in the Purchase Agreement), or the VWAP Purchase Date, we may also directthe Selling Shareholder to purchase an additional number of Depositary Shares in an amount up to the VWAP Purchase Maximum Amount (as defined in the Purchase Agreement), or a VWAP Purchase, at a purchase price equal to the lesser of 95% of (i) the closing price of a Depositary Share on the trading day immediately preceding the applicable VWAP Purchase Date and (ii) the VWAP during