Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 133

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 133
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 securities or additional equity securities, it could result in dilution
to our existing shareholders, increased fixed payment obligations and these securities may have rights senior to those of our ordinary
shares (including the Depositary Shares) and could contain covenants that would restrict our operations and potentially impair our competitiveness,
such as limitations on our ability to incur additional debt, limitations on our ability to acquire, sell or license intellectual property
rights and other operating restrictions that could adversely impact our ability to conduct our business. Any of these events could significantly
harm our business, financial condition and prospects.

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 aLetter 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 not complied with the Minimum Bid Price Requirement. Normally, a company would be afforded a 180-calendar
day period to demonstrate compliance with the Minimum Bid Price Requirement. However, pursuant to NASDAQ Listing Rule 5810(c)(3)(A)(iv),
we were not eligible for any compliance period specified in Rule 5810(c)(3)(A) because we effected reverse stock splits over the prior
two-year period with a cumulative ratio of 250 shares or more to one. Accordingly, and as described in the Letter, unless we timely requested
a hearing before the Panel, our securities would be subject to suspension/delisting. We requested a hearing, which automatically stayed
any suspension or delisting action pending the hearing and the expiration of any additional extension period granted by the Panel following
the hearing.

On October 14, 2024, the Panel
granted our request for an extension of time to demonstrate compliance with the Minimum Bid Price Requirement. On November 7, 2024, we
were formally notified that the Panel determined that we had regained compliance with the Minimum Bid Price Requirement. We remain subject
to a discretionary panel monitor through February 24, 2025, and we are required to provide prompt notification during this exception period
of any significant events that occur during this time that may affect our compliance with NASDAQ requirements.

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If, in the future, we fail
to sustain compliance with all applicable requirements for continued listing on NASDAQ, including during the one-year monitoring