Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007342
Chunk: 33

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 33
---
 or in part, on a cashless basis. With respect to the May Private Placement Warrants and
Wainwright May Warrants, if there is no effective registration statement registering, or no current prospectus available for, the resale
of the Depositary Shares underlying such warrants, the holder may exercise the warrant, in whole or in part, on a cashless basis.

Exercise Price.The
exercise price of (i) each October Private Placement Warrant is $8,000.00 per Depositary Share and (ii) each May Private Placement Warrant,
May Armistice Warrant and Wainwright May Warrant is $82,000.00, $8,000.00 and $82,500.00 per Depositary Share, respectively, each subject
to the ‘cashless exercise’ arrangements described above and to adjustment as described below.

| 24 |

Beneficial Ownership Limitation. A holder shall have no right to exercise any portion of a warrant, to the extent that, after giving effect
to such exercise, such holder, together with such holder’s affiliates, and any persons acting as a group together with such holder
or any such affiliate, would beneficially own in excess of, at the initial option of the holder thereof, 4.99% or 9.99%, as applicable,
of the number of Ordinary Shares outstanding immediately after giving effect to the issuance of the Ordinary Shares underlying the Depositary
Shares upon such exercise. The holder of the warrant, upon notice to us, may increase or decrease the beneficial ownership limitation
to a percentage not to exceed 9.99%, provided that any increase in the beneficial ownership limitation shall not be effective until 61
days following notice to us. Beneficial ownership of the holder and its affiliates will be determined in accordance with Section 13(d)
of the Exchange Act, and the rules and regulations promulgated thereunder.

Stock dividends and stock splits. If we pay a stock dividend or otherwise make a distribution payable in Depositary Shares or Ordinary
Shares, or any other equity or equivalent securities, subdivide or combine outstanding Depositary Shares or Ordinary Shares, or reclassify
Depositary Shares, Ordinary Shares or any shares of our capital stock, the exercise price of each warrant will be adjusted by multiplying
the then exercise price by a fraction, the numerator of which shall be the number of Depositary Shares (excluding treasury shares, if
any) outstanding immediately before such event, and the denominator of which shall be the number of Depositary