Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 30

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 30
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 of this registration statement, of (i) 17,398,000,000
Ordinary Shares, pursuant to the ELOC with the Investor, resulting in gross proceeds of $4.9 million, and (ii) 1,533,490,000 Ordinary
Shares in satisfaction of a commitment fee in connection with the ELOC, our pro forma net tangible book value as of December 31, 2024
would have been £6.4 million, or $3.12 per Depositary Share.

After
giving effect to the sale of all Units by us in this offering at an assumed public offering price of $ per Unit, and assuming no sale
of any Pre-Funded Units and no exercise of the Series L Warrants and Underwriter Warrants, and after deducting estimated underwriting
discounts and commissions, and estimated offering expenses payable by us, our as adjusted net tangible book value as of December 31, 2024
would have been approximately $ million, or $ per Depositary Share. This represents an immediate decrease in net tangible book value of
$ per Depositary Share to our existing shareholders and an immediate dilution of $ per Depositary Share to investors purchasing Units
in this offering. The final public offering price will be determined through negotiation between us and the underwriters in the offering
and may be at a discount to the current market price. Therefore, the assumed public offering price used throughout this prospectus may
not be indicative of the final public offering price.

The
following table illustrates this dilution on a per Depositary Share basis:

|                                                                                                                        |     | As at December 31, 2024        |       |   |
|:-----------------------------------------------------------------------------------------------------------------------|:----|:-------------------------------|------:|:--|
|                                                                                                                        |     | Per American Depositary Shares |       |   |
| Assumed public offering price per Depositary Share                                                                     |     | $                              |       |   |
| Historical                                                                                                             
 net tangible book value per Depositary Share as of December 31, 2024                                                   |     | $                              |  5.02 |   |
| Decrease to net tangible book value per Depositary Share attributable to pro forma adjustment above                    |     | $                              | (1.90 | ) |
| Pro forma net tangible book value per Depositary Share as of December 31, 2024                                         |     | $                              |  3.12 |   |
| Decrease to net tangible book