Company: NCNA
Filing Date: 2025-05-02
Form Type: F-1/A
Source: 0001193125-25-110310
Chunk: 5

Company: NuCana plc
Filing Date: 2025-05-02
Form: F-1/A
Chunk 5
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 based on the exchange rate on the date of pricing, and
the exercise price of each Pre-Funded Warrant will be equal to the United States dollar equivalent of £0.01, based on the exchange rate on the date of exercise. For each
Pre-Funded Warrant that we sell, the number of ADSs offered will be decreased on a one-for-one basis. This offering also relates
to the ADSs issuable upon exercise of the Warrants, or the Warrant Shares, and the ADSs issuable upon exercise of the Pre-Funded Warrants, or the Pre-Funded Warrant
Shares.

Offering and ADSs Issuable in the Offering

This prospectus registers up to 12,497,768 ADSs, together with Series A Warrants to purchase up to 12,497,768 ADSs and Series B Warrants to
purchase up to 12,497,768 ADSs. Each ADS, or Pre-Funded Warrant in lieu thereof, is being sold together with a Series A Warrant to purchase one ADS and a Series B Warrant to purchase one ADS. The ADSs, or Pre-Funded Warrants in lieu thereof, and the
Warrants are immediately separable and will be issued separately, but must be purchased together. The assumed combined public offering price for each ADS and accompanying Warrants is $0.5601, which was the closing price of our ADSs on The Nasdaq
Capital Market on April 28, 2025.

The Pre-Funded Warrants sold in lieu of ADSs to those purchasers, who, together with their affiliates
and certain related parties, would beneficially own more than 4.99% (or at the election of the purchaser, 9.99%), will have an exercise price equal to the United States dollar equivalent of £0.01, based on the exchange rate on the date of
exercise. For each Pre-Funded Warrant that we sell, the number of ADSs offered will be decreased on a one-for-one basis.

Each Series A
Warrant will have an exercise price equal to 125% of the combined public offering price, is exercisable on the Initial Exercise Date, and will expire on the five-year anniversary of the Initial Exercise Date. The holders of the Series A Warrants
will be issued a maximum of 12,497,768 ADSs upon the cash exercise of the Series A Warrants.

Each Series B Warrant will have an exercise price equal to 250