Company: BDRX
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001214659-25-007340
Chunk: 27

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-12
Form: 424B3
Chunk 27
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 a holder of our capital stock until they exercise the placement agent
warrants.

Series D Warrants and May 2023 Placement Agent Warrants

The following is a brief summary of the Series D Warrants and the placement agent
warrants, or the May 2023 Placement Agent Warrants, issued in connection with a May 2023 registered direct offering, or May 2023 Registered
Direct Offering, and is subject in all respects to the provisions contained in the applicable warrants, which, are filed as exhibits to
this Registration Statement on Form F-1. Unless otherwise stated, references to warrants in this subsection include the Series D Warrants
and the May 2023 Placement Agent Warrants.

Exercisability.
The warrants became exercisable on June 14, 2023. The Series D Warrants and May 2023
Placement Agent Warrants expire five years and three years, respectively, from the initial exercise date. The holder shall deliver the
aggregate exercise price for the Depositary Shares specified in the exercise notice within two trading days following the date of exercise
(subject to the ‘cashless exercise’ arrangements described below).

Cashless Exercise. The Series D Warrants and May 2023 Placement Agent Warrants may be exercised on a cashless basis, if and only if, we
have not filed a registration statement registering the Depositary Shares underlying such warrants within six months of the initial exercise
date.

Exercise Price.The exercise price of each Series D Warrant is $400.00 per Depositary Share and the exercise price of each May 2023 Placement
Agent Warrant is $375.00 per Depositary Share.

Beneficial Ownership Limitation. A holder shall have no right to exercise any portion of a warrant, to the extent that, after giving effect
to such exercise, such holder, together with such holder’s affiliates, and any persons acting as a group together with such holder
or any such affiliate, would beneficially own in excess of 9.99% (or in the case of the May 2023 Placement Agent Warrants, 4.99%), of
the number of Ordinary Shares outstanding immediately after giving effect to the issuance of the Ordinary Shares underlying the Depositary
Shares upon such exercise. The holder of the warrant, upon notice to us, may increase or decrease the beneficial ownership limitation
to a percentage not to exceed 9.99%, provided that any increase in the beneficial ownership limitation shall not be effective until 61
days following notice to us