Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 18

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 18
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 system. Without a trading market, the liquidity of the Pre-Funded Warrants and Series L Warrants will be extremely limited. |

The number of our Ordinary Shares to be outstanding immediately after this offering is calculated based upon 25,617,408,922 Ordinary Shares outstanding as of April 1, 2025, and excludes as of that date:

| · | 325,958,788 Ordinary Shares issuable upon the exercise of stock options outstanding under our equity incentive plans at a weighted-average 
 exercise price of £0.005 per share;                                                                                                        |

| · | 40 Ordinary Shares issuable upon the exercise of stock options in connection with the acquisition of DARA Bioscience, Inc. at a weighted 
 average exercise price of $824.80 per share;                                                                                             |

| · | warrants, including pre-funded warrants, exercisable for 770,026 Depositary Shares (representing 7,700,260,000 Ordinary Shares), at 
 a weighted average exercise price of $38.42 per Depositary Share; and                                                               |

| · | any warrants issuable in this offering. |

| 11 |

<div align='center'>RISK FACTORS</div>

Investing in our securities involves a high degree of risk. You should carefully consider the risks described under “Risk Factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, as filed with the SEC, and all other information contained in, or incorporated by reference in, this prospectus, as updated by those subsequent filings with the SEC under the Exchange Act, before making an investment decision. The risks and uncertainties described below and incorporated by reference are not the only ones we face. Additional risks and uncertainties not presently known to us may also adversely affect our business. Our business, financial condition and/or results of operations could be materially and adversely affected if any of these risks occur, and as a result the trading price of the Depositary Shares could decline and you could lose all or part of your investment.

This prospectus also contains forward-looking statements that involve risks and uncertainties. See “Special Note Regarding Forward-Looking Statements.” Our actual results could differ materially and adversely from those anticipated in these forward-looking statements as a result of certain factors.

Risks Related to This Offering

You will incur immediate and substantial dilution in the net tangible book value of the shares you purchase in this offering, and future sales or dilution of our equity, including the issuance of shares from Series L W