Company: BDRX
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001214659-25-016821
Chunk: 29

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-11-17
Form: F-1
Chunk 29
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 affect
the ability of investors to trade our securities, and/or negatively affect the value and liquidity of our Depositary Shares.

We will likely not receive any additional funds upon the exercise of the Series L Warrants.

During the period of 90 calendar days following
the issue date of the Series L Warrants, the Series L Warrants may be exercised by way of a zero cash exercise price option, allowing
the holder of the Series L Warrant the right to receive, without payment of any additional cash to the Company, an aggregate number of
Depositary Shares equal to the product of (x) the aggregate number of Depositary Shares that would be issuable upon a cash exercise of
the Series L Warrant and (y) two (2). Accordingly, it is highly unlikely that a holder of the Series L Warrants would wish to pay an exercise
price in cash to receive one Depositary Share when they could instead choose the zero cash exercise option and pay no cash to receive
up to 15 Depositary Shares if the exercise price decreases to and equals the floor price at the time of such election. As a result, we
will likely not receive any additional funds and do not expect to receive any additional funds upon the exercise of the Series L Warrants.

| 17 |

There is no public market for the warrants being offered in this offering.

The public offering price
for the securities will be determined by negotiations between us, the placement agent and prospective investors, and may not be indicative
of prices that will prevail in the trading market. We do not intend to apply to list the warrants on NASDAQ or any nationally recognized
trading system, and accordingly, there will be no trading market for such warrants. In the absence of an active public trading market:

| · | you may not be able to resell your securities at or above the public offering price; |

| · | the market price of our Depositary Shares may experience more price volatility; and |

| · | there may be less efficiency in carrying out your purchase and sale orders. |

| 18 |

Holders of Pre-Funded Warrants and Series L Warrants purchased in this offering will have no rights as Depositary Share holders until such holders exercise such Pre-Funded Warrants and Series L Warrants and acquire our Depositary Shares.

Until holders of Pre-Funded
Warrants and Series L Warrants acquire Depositary Shares upon exercise of such Pre-Funded Warrants and Series L Warrants, holders of Pre-Funded
Warrants