Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007341
Chunk: 22

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 22
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 became exercisable upon issuance. The October Private Placement Warrants, May Private Placement Warrants and
May Armistice Warrants will expire five and one-half years from the initial exercise date, and the Wainwright May Warrants will expire
on May 18, 2025. The holder shall deliver the aggregate exercise price for the American depositary shares (each representing 10,000 Ordinary
Shares) or the Depositary Shares specified in the exercise notice within two trading days following the date of exercise (subject to the
‘cashless exercise’ arrangements described below).

Cashless Exercise. With respect to the October Private Placement Warrants, if, more than six months after the date of issuance of such warrants,
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. 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.

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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