Company: BDRX
Filing Date: 2025-11-24
Form Type: 424B3
Source: 0001214659-25-017135
Chunk: 29

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-11-24
Form: 424B3
Chunk 29
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 stated, references to warrants in this subsection include the Series D Warrants and the May
2023 Placement Agent Warrants.

Exercisability.
The warrants became exercisable on June 14, 2023. The Series D Warrants and May 2023 Placement Agent Warrants expire five years and three
years, respectively from the initial exercise date. The holder shall deliver the aggregate exercise price for 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. The
Series D Warrants and May 2023 Placement Agent Warrants may be exercised on a cashless basis, if and only if, we have not filed a registration
statement registering the Depositary Shares underlying such warrants within six months of the initial exercise date.

Exercise Price.The
exercise price of each Series D Warrant is $4,000.00 per Depositary Share and the exercise price of each May 2023 Placement Agent Warrant
is $3,750.00 per Depositary Share.

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 9.99% (or in the case of the May 2023 Placement Agent Warrants, 4.99%), 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