Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 151

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 151
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to prepay the Note.

The Note contains customary
representations and warranties by us and provides for certain customary events of default. Generally, if an event of default occurs and
is continuing under the Note, the holder thereof may require us to repay all amount due under the Note, including accrued and unpaid interest,
immediately.

We received the $540,000 pursuant
to the Note on December 24, 2024.

Regained Compliance with NASDAQ

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 a Letter, 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 a closing bid price below $1.00 for 30 consecutive business days, which triggered a notice of delisting
pursuant to NASDAQ Listing Rule 5550(a)(2). 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 Hearings 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.

Depositary Share Ratio Change and Change in Nominal Value

On October 4, 2024, and in