Company: NCNA
Filing Date: 2025-04-24
Form Type: F-1
Source: 0001193125-25-092131
Chunk: 5

Company: NuCana plc
Filing Date: 2025-04-24
Form: F-1
Chunk 5
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arrant to purchase one ADS and a Series B Warrant to purchase one ADS. The ADSs, or Pre-Funded
Warrants in lieu thereof, and the Warrants are immediately separable and will be issued separately, but must be purchased together. The assumed combined public offering price for each ADS and accompanying Warrants is $0.81, which was the closing
price of our ADSs on The Nasdaq Capital Market on April 21, 2025.

The Pre-Funded Warrants sold in lieu of ADSs to those purchasers, who,
together with their affiliates and certain related parties, would beneficially own more than 4.99% (or at the election of the purchaser, 9.99%), will have an exercise price equal to the United States dollar equivalent of £0.01, based on the
exchange rate on the date of exercise. For each Pre-Funded Warrant that we sell, the number of ADSs offered will be decreased on a one-for-one basis.

Each Series A Warrant will have an exercise price equal to 125% of the combined public offering price, is exercisable on the Initial Exercise
Date, and will expire on the five-year anniversary of the Initial Exercise Date. The holders of the Series A Warrants will be issued a maximum of 16,049,383 ADSs upon the cash exercise of the Series A Warrants.

Each Series B Warrant will have an exercise price equal to 125% of the combined public offering price, is exercisable on the Initial Exercise
Date, and will expire on the two and one half-year anniversary of the Initial Exercise Date. A holder of Series B Warrants may, at any time after the eleventh trading day following the Initial Exercise Date and in its sole discretion, exercise its
Series B Warrants in whole or in part through the “zero exercise price” option. Each Series B Warrant is initially exerciable for one ADS at an exercise price equal to 125% of the combined public offering price; however, if the holder
elects the “zero exercise price” option, the number of ADSs issuable upon exercise of each Series B Warrant would increase by three times the number of ADSs a holder would have received had the holder exercised for cash. As a result of
this feature, we do not expect to receive any cash proceeds from the exercise of the Series B Warrants because it is highly unlikely that a Series B Warrant holder will elect to pay an exercise price in cash to