Company: NCNA
Filing Date: 2025-05-02
Form Type: F-1/A
Source: 0001193125-25-110310
Chunk: 26

Company: NuCana plc
Filing Date: 2025-05-02
Form: F-1/A
Chunk 26
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, subject to a floor price, and a corresponding increase in the number of ADSs issuable upon exercise
therefor, such that the aggregate exercise price would remain unchanged. As a result of such features, the number of ADSs issuable upon exercise of the Series A Warrants and Series B warrants may increase significantly. For example, if the exercise
price of the Series A Warrants is adjusted to the floor price, holders will be issued a maximum of 78,111,052 ADSs upon exercise. If the exercise price of the Series B Warrants is adjusted to the floor price, holders will be issued a maximum of
156,222,103 ADSs upon exercise. Further, if the holders of the Series B Warrants elect the “zero exercise price” option, the maximum number of ADSs issuable upon exercise of the Series B Warrants will equal 156,222,103 multiplied by 3.0,
resulting in a maximum of 468,666,310 ADSs issuable upon the exercise (assuming the exercise price is reduced to the floor price). If The Nasdaq Stock Market determines the terms of this offering raise public interest concerns due to the dilutive
nature of the transaction, or any other reason, The Nasdaq Stock Market may issue a determination letter to delist our ADSs pursuant to its discretionary authority under Listing Rule 5101. In that event, even if we were to timely request a hearing
with respect to The Nasdaq Stock Market’s determination to delist our ADSs, The Nasdaq Stock Market may still impose an immediate halt on the trading of our ADSs pursuant to Nasdaq Listing Rule 4120(a)(5) pending the outcome of such hearing. If
trading in our ADSs were to be halted or if The Nasdaq Stock Market were to determine to delist our ADSs,

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investors could lose all or part of their investment and our ability to raise additional capital through the public or private sale of equity securities would be adversely affected.

This offering may cause the price of our ADSs to decline and fall below the minimum bid price requirement required by the Nasdaq Listing Rules, which could result in our ADSs being delisted from The Nasdaq Capital Market. A delisting of our ADSs from The Nasdaq Capital Market could adversely affect our ability to raise additional capital through the public or private sale of equity securities, the ability of investors to dispose of ADSs or obtain accurate quotations as to the market value of our ADSs and