Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 152

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 152
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 price and our inability to draw sufficient funds when needed. See “ Risk Factors.” The sale of our Depositary Shares tothe Selling Shareholder under the Purchase Agreement will not affect the rights or privileges of our other shareholders, except that the economic and voting interests of our existing shareholders will be diluted as a result of any such sale. Although the number of Depositary Shares that our other shareholders own will not decrease, the shares owned by our other shareholders will represent a smaller percentage of our total outstanding shares after any such sale tothe Selling
Shareholder under the Purchase Agreement.

For more information see “ The Committed Equity Financing.”

Promissory Note

On December 20, 2024, we issued
a promissory note to the Selling Shareholder in the aggregate principal amount of $600,000, at a 10% original issue discount. The Note
is an unsecured obligation of the Company and bears interest at an annual rate of 5%, which may be increased under certain circumstances,
and has a maturity date of one year from the Issuance Date. The Note includes a monthly repayment schedule, with the entire principal
amount of the Note, plus accrued and unpaid interest, due and payable by the Company on the date that is twelve (12) months from the Issuance
Date. The Note may be prepaid prior to the Maturity Date without penalty. Additionally, during the term of the Note, if we conduct a securities
offering with gross proceeds equal to or greater than $500,000, we shall be obligated to utilize 25% of the gross proceeds of such offering
to prepay the Note.

The Note contains customary
representations and warranties by us and provides for certain customary events of default. Generally, if an event of default occurs and
is continuing under the Note, the holder thereof may require us to repay all amount due under the Note, including accrued and unpaid interest,
immediately.

We received the $540,000 pursuant
to the Note on December 24, 2024.

Regained Compliance with NASDAQ

Our Depositary Shares are currently listed on the NASDAQ Capital Market. We are required to meet certain qualitative and financial tests to maintain the listing of the Depositary Shares on the NASDAQ Capital Market. On August 27, 2024, we received a Letter, from the
Listing Qualifications Department of NASDAQ notifying us of the Staff’s determination to delist our securities from the NASDAQ Capital
Market because our securities had a closing bid price below