Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007342
Chunk: 32

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 32
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 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 our Report on Form 6-K dated October 24, 2019, and for the May Private Placement Warrants,
May Armistice Warrants and Wainwright May Warrants, are filed as exhibits to our Report on Form 6-K dated May 20, 2020. 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, more than six months after the date of issuance of such warrants, there is no effective
registration statement registering, or no current prospectus available for, the resale of the Depositary Shares underlying such warrants,
the holder may exercise the warrant, in whole