Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007340
Chunk: 21

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 21
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 we assumed all of DARA’s outstanding options, or DARA Options. As of December 31, 2024, there were outstanding DARA Options
to purchase 99 Ordinary Shares with a weighted average remaining life of 0.2 years.

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Warrants

October 2019 and May 2020 Warrants

In October 2019, we completed a private placement with certain institutional investors,
or the October Private Placement, where we issued warrants to certain investors, or the October Private Placement Warrants. In May 2020,
we completed a private placement with certain institutional investors, or the May Private Placement, where we issued warrants to certain
investors, or the May Private Placement Warrants, the placement agent, Wainwright, or the Wainwright May Warrants and Armistice Capital,
or the May Armistice Warrants. The following is a brief summary of the October Private Placement Warrants, May Private Placement Warrants,
Wainwright May Warrants and the May Armistice Warrants issued in connection with the October Private Placement and May Private Placement,
as applicable, and is subject in all respects to the provisions contained in the applicable warrants, which are filed as exhibits to this
Registration Statement on Form F-1. On December 13, 2022, the exercise price of the October Private Placement Warrants granted to Armistice
Capital and the May Private Placement Warrants was increased to $8,000.00. Unless otherwise stated, references to warrants in this section
include the October Private Placement Warrants, May Private Placement Warrants, and Wainwright May Warrants.

Exercisability.
The October Private Placement Warrants became exercisable on December 23, 2019. The May Private Placement Warrants, May Armistice Warrants
and Wainwright May Warrants became exercisable upon issuance. The October Private Placement Warrants, May Private Placement Warrants and
May Armistice Warrants will expire five and one-half years from the initial exercise date, and the Wainwright May Warrants will expire
on May 18, 2025. The holder shall deliver the aggregate exercise price for the American depositary shares (each representing 10,000 Ordinary
Shares) or the Depositary Shares specified in the exercise notice within two trading days following the date of exercise (subject to the
‘cashless exercise’ arrangements described below).

Cashless Exercise. With respect to the October Private Placement Warrants, if