Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 48

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 48
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 case the
holder would receive upon such exercise the net number of Depositary Shares determined according to the formula set forth in the Series
L Warrant and/or Pre-Funded Warrant.

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A
holder of Series L Warrants may also, during the period of 90 calendar days following the issue date of the Series L Warrants, provide
notice and elect a “zero exercise price” option pursuant to which they would receive, without payment of any additional cash
to the Company, an aggregate number of shares equal to the product of (x) the aggregate number of Depositary Shares that would be issuable
upon a cash exercise of the Series L Warrant and (y) one (1).

Exercise Limitation. A holder will not have the right to exercise any portion of the Pre-Funded Warrants or Series L Warrants if the holder
(together with its affiliates) would beneficially own in excess of 4.99% (or, upon election of the holder prior to the issuance of any
warrants, up to 9.99%) of the number of shares of our Depositary Shares outstanding immediately after giving effect to the exercise, as
such percentage ownership is determined in accordance with the terms of the warrants. However, any holder may increase or decrease such
percentage to any other percentage not in excess of 9.99%, upon at least 61 days’ prior notice from the holder to us with respect
to any increase in such percentage.

Transferability.
Subject to applicable laws, the Series L Warrants and Pre-Funded Warrants may be offered for sale, sold, transferred or assigned without
our consent.

Exchange Listing. We do not intend to list the Series L Warrants or the Pre-Funded Warrants offered in this offering on any securities
exchange or other trading market. Without an active trading market, the liquidity of these securities will be limited.

Rights as a Shareholder. Except as otherwise provided in the Series L Warrants or the Pre-Funded Warrants or by virtue of such holder’s
ownership of our Depositary Shares, the holder of a Series L Warrant or Pre-Funded Warrant does not have the rights or privileges of a
holder of our Depositary Shares, including any voting rights, until the issuance of Depositary Shares upon exercise of the warrant. Holders
of Pre-Funded Warrants and Series L Warrants have the right to participate in dividends and certain distributions as specified in the
warrant.

Fractional Shares.
No