Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 349

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 349
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the profit and loss account (‘FVTPL’). The financial liability is valued using the Black-Scholes model. Financial liabilities
at FVTPL are stated at fair value, with any gains or losses arising on re-measurement recognised in profit or loss. The net gain or loss
recognised in profit or loss incorporates any interest paid on the financial liability and is included in the ‘finance income’
or ‘finance expense’ lines item in the income statement. A key input in the valuation of the instrument is the Company share
price.

Details of the
warrants are as follows:

May 2024 warrants

In May 2024 the
Company issued 2,359,012 Series G ADS Warrants and 3,695,218 Series H ADS Warrants as part of the Warrant Inducement Transaction. The
exercise price per ADS is $2.50.

December 2023 warrants

In December 2023
the Company issued 3,000,063 Series E ADS Warrants and 3,000,063 Series F ADS Warrants as part of the Registered Offering in the US. The
exercise price per ADS is $2.20.

May 2023 warrants

In June 2023 the
Company issued 276,689 Series D ADS Warrants as part of a registered direct offering and private placement in the US after securing shareholder
approval. The exercise price per ADS was $16.00.

May 2020 warrants

In May 2020 the
Company issued 838 ADS warrants as part of a registered direct offering in the US.

October 2019 warrants

In October 2019
the Company issued 392 ADS warrants as part of a registered direct offering in the US.

| F-12 |

Warrant re-price

On May 22, 2024 the Company entered
into agreements with several accredited investors to exercise existing Series E warrants and Series F warrants, issued in December 2023,
to purchase up to an aggregate of 4,358,322 ADSs. The warrant holders agreed to exercise the Series E and/or Series F warrants at an exercise
price of $1.50 (reduced from $2.20) per ADS.

| Schedule of warrant exercise price |     | ADS Warrants Number |     |   | Original price per 
                ADS |     |   | New price per ADS |     |      Equivalent Ordinary 
     Shares (400 Ordinary 
 Shares per ADS)   Number |
|:--------------------------------