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

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 28
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icially owned by the Selling Shareholder and its affiliates (as calculated pursuant to Section 13(d) of the Exchange Act, and Rule
13d-3 promulgated thereunder), would result in the Selling Shareholder beneficially owning Ordinary Shares in excess of the Beneficial
Ownership Limitation. Our inability to access a portion or the full amount available under the Purchase Agreement, in the absence of any
other financing sources, could have a material adverse effect on our business or results of operation.

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The Selling Shareholder will pay less than the then-prevailing market price for our Depositary Shares, which could cause the price of our Depositary Shares to decline.

The purchase price of our
Depositary Shares to be sold to the Selling Shareholder under the Purchase Agreement is derived from the market price of our Depositary
Shares on the NASDAQ. Shares to be sold to the Selling Shareholder pursuant to the Purchase Agreement will be purchased at a discounted
price.

For example, we may effect
sales to the Selling Shareholder pursuant to a Fixed Purchase Notice at a purchase price equal to the lesser of 95% of (i) the 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 preceding applicable Purchase Date. See “The Committed Equity Financing” for more information.

As a result of this pricing
structure, the Selling Shareholder may sell the shares they receive immediately after receipt of such shares, which could cause the price
of our Depositary Shares to decrease.

Investors who buy Depositary Shares from the Selling Shareholder at different times will likely pay different prices.

Pursuant
to the Purchase Agreement, we have discretion (subject to the restrictions and satisfaction of the conditions in the Purchase Agreement)
to vary the timing, price and number of Depositary Shares we sell to the Selling Shareholder. If and when we elect to sell Depositary
Shares to the Selling Shareholder pursuant to the Purchase Agreement, after the Selling Shareholder has acquired such shares, the Selling
Shareholder may resell all, some or none of such shares at any time or from time to time in its sole discretion and at different prices.
As a result, investors who purchase shares from the Selling Shareholder in this offering at different times will likely pay different
prices for those shares, and so may experience different levels of dilution and in some cases substantial dilution and different