Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 47

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 47
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 the Series L Warrants will be reset to a price equal to the lower of (i) the exercise price then in effect and (ii)
the greater of (a) 80% of lowest daily VWAP during the period beginning on the 5th trading day after the date of issuance and ending on
the First Reset Date, and (b) 40% of most recent Nasdaq Official Close Price preceding execution of the Underwriting Agreement; and the
number of Depositary Shares issuable upon exercise will be increased such that the aggregate exercise price of the Series L Warrants on
the issuance date for the Depositary Shares underlying the Series L Warrants then outstanding shall remain unchanged. Subsequently, at
4:01 p.m. Eastern time on the Second Reset Date, the exercise price of the Series L Warrants will be reset to a price equal to the lower
of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest VWAP during the period beginning on the 13th trading
day after the date of issuance and ending on the Second Reset Date, and (b) 20% of the most recent Nasdaq Official Close Price preceding
execution of the Underwriting Agreement; and the number of Depositary Shares issuable upon exercise will be increased such that the aggregate
exercise price of the Series L Warrants on the issuance date for the Depositary Shares underlying the Series A Warrants then outstanding
shall remain unchanged. Any reduction to the exercise price of the Series L Warrants and resulting increase in the Depositary Shares underlying
the Series L Warrants will be subject to a floor price. The floor price will be equal to 20% of the most recent Nasdaq Official Closing
Price of the Depositary Shares preceding execution of the Underwriting Agreement.

We
may be required to pay certain amounts as liquidated damages as specified in the warrants in the event we do not deliver Depositary Shares
upon exercise of the warrants within the time periods specified in the warrants. No fractional Depositary Shares will be issued in connection
with the exercise of a warrant.

Cashless Exercise and “Zero Exercise Price” Option. If a registration statement registering the issuance of the Depositary
Shares underlying the Series L Warrants and Pre-Funded Warrants under the Securities Act is not effective or available, the holder may,
in its sole discretion, elect to exercise the Series L Warrant and/or Pre-Funded Warrants through a cashless exercise, in which