Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 154

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 154
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 also agreed to pay Ladenburg a
management fee equal to 1.0% of the gross proceeds raised in the Offerings and an expense allowance of up to $85,000 for legal fees and
other out-of-pocket expenses. The July 2024 Placement Agent Warrant has substantially the same terms as the Series J Warrants, except
that the exercise price of the July 2024 Placement Agent Warrants is $31.25 and the term of the July 2024 Placement Agent Warrants will
terminate on the three-year anniversary of the initial exercise date.

Warrant Inducement

On
May 22, 2024, we entered into Warrant Agreements with certain Holders that were holders of an aggregate of 62,906 of our outstanding Series
E Warrants exercisable for $55.00 per Depositary Share, and an aggregate of 61,275 of our outstanding Series F Warrants exercisable for
$55.00 per Depositary Share, issued on December 21, 2023. Pursuant to the Warrant Agreements, the Holders agreed to exercise the Series
E Warrants and Series F Warrants, as applicable, at a reduced exercise price of $37.50 per Depositary Share; provided that the Warrant
Agreements provide that in the event that any warrant exercise would otherwise cause a holder to exceed the beneficial ownership limitation
set forth in the applicable warrants, we would only issue such number of shares to such holder that would not cause such holder to exceed
the maximum number of shares permitted thereunder, with the balance to be held in abeyance for the benefit of such holder until notice
from such holder that the balance (or portion thereof) may be issued in compliance with such limitation, which abeyance is evidenced through
the warrants which shall be deemed prepaid thereafter (including the payment in full of the exercise price), and exercised pursuant to
a notice of exercise (provided no additional exercise price shall be due and payable). Upon the Closing, we issued 124,182 Depositary
Shares to the Holders, with the remaining 931,585 Depositary Shares remaining unissued but held in abeyance until we receive notice from
the holders that the remaining shares may be issued in compliance with the beneficial ownership limitation. The 37,263 Depositary Shares
held in abeyance were not issued following the warrant exercise as the Warrant Agreements prohibit us from issuing the abeyance shares
because doing so would