Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 12

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 12
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4, or the
Issuance Date, we issued a promissory note to the Selling Shareholder in the aggregate principal amount of $600,000, or the Note, at a
10% original issue discount. The Note is an unsecured obligation of the Company and bears interest at an annual rate of 5%, which may
be increased under certain circumstances, and has a maturity date of one year from the Issuance Date. The Note includes a monthly repayment
schedule, with the entire principal amount of the Note, plus accrued and unpaid interest, due and payable by the Company on the date that
is twelve (12) months from the Issuance Date, or the Maturity Date. The Note may be prepaid prior to the Maturity Date without penalty.
Additionally, during the term of the Note, if we conduct a securities offering with gross proceeds equal to or greater than $500,000,
we shall be obligated to utilize 25% of the gross proceeds of such offering to prepay the Note.

The Note contains customary
representations and warranties by us and provides for certain customary events of default. Generally, if an event of default occurs and
is continuing under the Note, the holder thereof may require us to repay all amount due under the Note, including accrued and unpaid interest,
immediately.

We received the $540,000 pursuant
to the Note on December 24, 2024.

Regained Compliance with NASDAQ

Our Depositary Shares are currently listed on the NASDAQ Capital Market. We are required to meet certain qualitative and financial tests to maintain the listing of the Depositary Shares on the NASDAQ Capital Market. On August 27, 2024, we received aStaff Determination
Letter, or the Letter, from the Listing Qualifications Department of The Nasdaq Stock Market LLC, or NASDAQ, notifying us of the Staff’s
determination to delist our securities from the NASDAQ Capital Market because our securities had a closing bid price below $1.00 for 30
consecutive business days, which triggered a notice of delisting pursuant to NASDAQ Listing Rule 5550(a)(2), or the Minimum Bid Price
Requirement. Normally, a company would be afforded a 180-calendar day period to demonstrate compliance with the Minimum Bid Price Requirement.
However, pursuant to NASDAQ Listing Rule 5810(c)(3)(A)(iv), we were not eligible for any compliance period specified in Rule 5810(c)(3)(A)
because we effected