Company: NCNA
Filing Date: 2025-05-02
Form Type: F-1/A
Source: 0001193125-25-110310
Chunk: 4

Company: NuCana plc
Filing Date: 2025-05-02
Form: F-1/A
Chunk 4
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zero exercise price” option, the number of ADSs issuable upon exercise of the Series B Warrants would increase by three times the number of ADSs a
holder would have received had the holder exercised the Series B Warrant for cash, resulting in a maximum of 546,777,361 ADSs upon the exercise of all of the Series A Warrants and Series B Warrants. In addition, at our request, the holders of the
Series B Warrants have agreed to certain restrictions on the exercise of the Series B Warrants, as more fully described in the section entitled “Description of Securities We Are Offering.”

Notwithstanding the foregoing, including but not limited to the cashless exercise provisions of the Warrants and Pre-Funded Warrants and the
“zero exercise price” option provision of the Series B Warrant, under no circumstances shall the Warrants or Pre-Funded Warrants be exercised for an exercise price that is less than the product of (i) the number of ordinary shares
represented by each Warrant Share subject to delivery upon submission of any notice of exercise under the Warrants or Pre-Funded Warrants, multiplied by (ii) the nominal value per ordinary share, which is £0.0004, or the Mandatory Nominal
Exercise Price. The Mandatory Nominal Exercise Price shall be paid to us in the manner set forth in the Warrants or Pre-Funded Warrants with respect to the exercise price of such Warrants or Pre-Funded Warrants computed by using the noon buying rate
of the Federal Reserve Bank of New York for the U.S. dollar per pound sterling exchange rate as of the date of exercise.

Because a
purchaser’s purchase of ADSs in this offering could otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or at the election of the purchaser, 9.99%) of our outstanding
ADSs immediately following consummation of this offering, we are offering to the purchasers pre-funded warrants to purchase up to 12,497,768 ADSs, or the Pre-Funded
Warrants, in lieu of ADSs. Each Pre-Funded Warrant will be exercisable for one ADS. The purchase price of each Pre-Funded Warrant and accompanying Warrants is equal to
the price per ADS and accompanying Warrants at which the ADSs and accompanying Warrants are being sold to the public in this offering, minus the United States dollar equivalent of £0.01,