Company: BDRX
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001214659-25-006756
Chunk: 57

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-01
Form: DRS
Chunk 57
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 13,
2022, the exercise price of the October Private Placement Warrants granted to Armistice Capital and the May Private Placement Warrants
was increased to $8,000.00. Unless otherwise stated, references to warrants in this section include the October Private Placement Warrants,
May Private Placement Warrants, and Wainwright May Warrants.

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Exercisability.The
October Private Placement Warrants became exercisable on December 23, 2019. The May Private Placement Warrants, May Armistice Warrants
and Wainwright May Warrants became exercisable upon issuance. The October Private Placement Warrants, May Private Placement Warrants and
May Armistice Warrants will expire five and one-half years from the initial exercise date, and the Wainwright May Warrants will expire
on May 18, 2025. The holder shall deliver the aggregate exercise price for the American depositary shares (each representing 10,000 Ordinary
Shares), or 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.With
respect to the October Private Placement Warrants, if, more than six months after the date of issuance of such warrants, there is no effective
registration statement registering, or no current prospectus available for, the resale of the Depositary Shares underlying such warrants,
the holder may exercise the warrant, in whole or in part, on a cashless basis. With respect to the May Private Placement Warrants and
Wainwright May Warrants, if there is no effective registration statement registering, or no current prospectus available for, the resale
of the Depositary Shares underlying such warrants, the holder may exercise the warrant, in whole or in part, on a cashless basis.

Exercise Price.The
exercise price of (i) each October Private Placement Warrant is $8,000.00 per Depositary Share and (ii) each May Private Placement Warrant,
May Armistice Warrant and Wainwright May Warrant is $82,000.00, $8,000.00 and $82,500.00 per Depositary Share, respectively, each subject
to the `cashless exercise’ arrangements described above and to adjustment as described below.

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