Company: BDRX
Filing Date: 2025-09-12
Form Type: 424B3
Source: 0001214659-25-013677
Chunk: 9

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-09-12
Form: 424B3
Chunk 9
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 C/M. Under the terms
of the ELOC, we have the right, but not the obligation, to sell to C/M from time to time up to $35 million of newly issued ADSs over a
36-month period, unless the ELOC is terminated. As consideration for the execution and delivery of the ELOC, we agreed to pay a commitment
fee (“Commitment Fee”) of $875,000 in cash, of which (i) $612,500 was to be paid to C/M on signing the ELOC and (ii) the balance
was to be paid pro rata, simultaneously with the delivery of any ADSs sold under the ELOC. We had the right to issue ADSs representing
the value of the applicable portion of the Commitment Fee. We paid the initial Commitment Fee of $612,500 through the issuance of 140,080
Depositary Shares to the Purchaser.

We may direct C/M
to purchase a specified number of ADSs not to exceed $2.5 million on any given day, at a price based on a formula, typically 95% of the
closing price on the prior day. As of June 30, 2025, the Company had raised gross proceeds of $8.56 million from the ELOC.

Warrant Inducement

In May 2025 we
entered into letter agreements with certain holders of outstanding Series E, Series H, Series J and Series K warrants to reduce the exercise
price of such warrants to $0.31 per share. The holders exercised an aggregate of 200,433 warrants representing the same number of ADSs.
We received gross proceeds of approximately $62,000, before offering expenses. The Company did not issue new warrants to replace the exercised
warrants and did not engage a placement agent to facilitate the transaction.

| 7 |

1H25 FINANCIAL REVIEW

The unaudited results
for the six months ended June 30, 2025 are discussed below:

Key performance
indicators (KPIs):

|                                          | 1H 2025 | 1H 2024  | Change |
| R&D costs                                | £1.67m  | £2.19m   | (24)%  |
| R&D as % of operating costs              | 41%     | 52%      | (11)%  |
| Net cash inflow/(outflow) for the period | £2.37m  | £(