Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 122

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 122
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 Purchase Agreement to fund our development programs, for working capital and other general corporate purposes.

The expected use of the net
proceeds from the offering represents our intentions based upon our current plans and business conditions, which could change in the future
as our plans and business conditions evolve. The amounts and timing of our actual expenditures depend on numerous factors, including the
ongoing status of and results from our clinical trials and other studies, the progress of our preclinical development efforts and any
unforeseen cash needs. As a result, our management will have broad discretion in applying the net proceeds of the offerings.

Pending the uses described
above, we plan to invest the net proceeds from this offering in short-term, interest-bearing investments.

| 62 |

<div align='center'>DIVIDEND POLICY</div>

Since
inception, we have never declared or paid any cash dividends on our Ordinary Shares and do not anticipate paying any cash dividends on
our Ordinary Shares or the Depositary Shares in the foreseeable future. We intend to retain all available funds and any future earnings
to fund the development and expansion of our business. As a result, investors in the Ordinary Shares and Depositary Shares will benefit
in the foreseeable future only if the Ordinary Shares and Depositary Shares appreciate in value.

Any
determination to pay dividends in the future would be at the discretion of our Board of Directors and will depend upon our results of
operations, cash requirements, financial condition, contractual restrictions, and any future debt agreements and is subject to compliance
with applicable laws, including the United Kingdom Companies Act of 2006, or the Companies Act, which requires English companies to have
profits available for distribution equal to or greater than the amount of the proposed dividend.

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<div align='center'>CAPITALIZATION</div>

The following table sets forth
our capitalization as of June 30, 2024:

| · | on an actual basis; and |

| · | on a pro forma as-adjusted basis to give effect to the                                                                                      
 issuance and sale by us of 5,050,808 Depositary Shares and 278,975 pre-funded warrants (representing an aggregate of 2,131,913,200 Ordinary 
 Shares) in the July 2024 Registered Direct Offering, at an offering price of $0.94 per Depositary Share and $0.9399 per pre-funded warrant, 
 after deducting placement agent fees and estimated offering expenses by us.                                                                 |

The adjusted amounts shown