Company: BDRX
Filing Date: 2025-12-11
Form Type: F-1/A
Source: 0001214659-25-017944
Chunk: 28

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-12-11
Form: F-1/A
Chunk 28
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 purposes of this table.                                 
 We will be required to complete an assessment of the accounting and valuation for such instruments, which may result in a portion of the    
 proceeds being classified outside of Total equity and remeasured to fair value each reporting period (if liability-classified instruments). 
 Such assessment will be completed in connection with the preparation of our consolidated financial statements for the period in which       
 the sales occur.                                                                                                                            |

The number
of our Ordinary Shares to be outstanding immediately after this offering is calculated based upon 61,952,308,922 Ordinary Shares outstanding
as of June 30, 2025, and excludes as of that date:

| · | 313,070,788 Ordinary Shares issuable upon the exercise of stock options outstanding under our equity incentive plans at a weighted-average 
 exercise price of £0.005 per share;                                                                                                        |

| · | six Ordinary Shares issuable upon the exercise of stock options in                                                      
 connection with the acquisition of DARA Bioscience, Inc. at a weighted average exercise price of $981.91 per share; and |

| · | warrants, including pre-funded warrants, exercisable for 48,848 Depositary Shares (representing 4,884,800,000 Ordinary Shares), at 
 a weighted average exercise price of $402.20 per Depositary Share.                                                                 |

| 20 |

<div align='center'>DILUTION</div>

If you invest in our securities,
your ownership interest will be diluted to the extent of the difference between the amount per Unit paid by purchasers, assuming that
all the units are issued and no value is attributed to the warrants, in this public offering and the as adjusted net tangible book value
per share of our Depositary Shares immediately after the closing of this offering. Such calculation does not reflect any potential dilution
associated with the sale and exercise of warrants, which would cause the actual dilution to you to be higher.

Our net tangible book value
as of June 30, 2025 was approximately £5.79 million, or $7.94 per Depositary Share. Net tangible book value per Depositary Share
is determined by dividing our total tangible assets, less total liabilities, by the number of our Ordinary Shares outstanding as of June
30, 2025, and multiplying such amount by 100,000 (one Depositary Share represents 100,000 Ordinary Shares).

After
giving effect to the sale and issuance, subsequent to June 30, 2025 through the