Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 253

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 253
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 after the consummation of the fundamental transaction, an amount of cash equal to the
value of the February Placement Agent Warrant as determined in accordance with the Black Scholes option pricing model.

Transferability. Each
placement agent warrant and all rights thereunder are transferable, in whole or in part, upon surrender of the placement agent warrant,
together with a written assignment of the warrant subject to applicable securities laws; provided, however, that the placement agent warrants
are subject to certain FINRA transfer restrictions. We do not intend to apply for listing of the placement agent warrants on any securities
exchange or other trading system.

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No Rights as Shareholder Until Exercise. Except as set forth in the placement agent warrants, the holders of the placement agent
warrants do not have any voting rights, dividends or other rights as a holder of our capital stock until they exercise the placement agent
warrants.

Series D Warrants and May 2023 Placement Agent Warrants

The following is a brief summary of the Series D Warrants
and the placement agent warrants, or the May 2023 Placement Agent Warrants, issued in connection with the May 2023 Registered Direct Offering,
and is subject in all respects to the provisions contained in the applicable warrants, which, are filed as exhibits to our Report on Form
6-K dated May 24, 2023. Unless otherwise stated, references to warrants in this subsection include the Series D Warrants and the May 2023
Placement Agent Warrants. All Series D Warrants in the offering have been exercised.

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 $400.00 per Depositary Share and the exercise price of each May 2023 Placement
Agent Warrant is $375.00 per