Company: BDRX
Filing Date: 2025-12-08
Form Type: F-1/A
Source: 0001214659-25-017719
Chunk: 17

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-12-08
Form: F-1/A
Chunk 17
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 required for a more complete understanding of our financial condition, liquidity, and results of operations as of September 30, 2025. Complete annual results will be included in our Annual Report on Form 20-F for the year ended December 31, 2025.

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Recent Developments

Ratio Change

On July 31, 2025, we effected
a ratio change in the number of Ordinary Shares represented by our Depositary Shares from 10,000 Ordinary Shares per Depositary Share
to 100,000 Ordinary Shares per Depositary Share. No fractional Depositary Shares were issued.

June 2025 GM

On June 11, 2025, we held
the June 2025 GM and our shareholders passed resolutions to (i) subdivide our Ordinary Shares of £0.00005 nominal value each into
one ordinary share of £0.000001 nominal value and 49 D deferred shares of £0.000001 nominal value each, and (ii) adopt new
Articles of Association, which made consequential amendments to the existing Articles of Association of the Company to reflect the June
Subdivision. As is standard for deferred shares, each D deferred share has very limited rights and is effectively valueless. The D deferred
shares have the rights and restrictions as set out in the Articles of Association and do not entitle the holder thereof to receive notice
of or attend and vote at any general meeting of the Company or to receive a dividend or other distribution.

Warrant Inducement

On May 15, 2025, we entered
into letter agreements, or the 2025 Warrant Agreements, with certain accredited holders, or Holders, of our outstanding Series E warrants,
or the Series E Warrants, Series H warrants, or the Series H Warrants, Series J warrants, or the Series J Warrants, and Series K warrants,
or the Series K Warrants, issued in prior transactions, pursuant to which the Holders agreed to exercise certain of such warrants in exchange
for a reduction in exercise price of each warrant to $0.31 per share. An aggregate of 200,433 warrants were exercised for aggregate gross
proceeds of approximately $62,000, before estimated offering expenses. We did not issue new warrants to replace the warrants that were
exercised.

eRapa Granted Orphan Drug Designation in Europe and Fast Track Designation

On May 12, 2025, we announced
that the European Commission had granted