Company: BDRX
Filing Date: 2025-05-08
Form Type: POS AM
Source: 0001214659-25-007196
Chunk: 24

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-05-08
Form: POS AM
Chunk 24
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 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.

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 holder, together with such holder’s affiliates, and