Company: NCNA
Filing Date: 2025-04-24
Form Type: F-1
Source: 0001193125-25-092131
Chunk: 73

Company: NuCana plc
Filing Date: 2025-04-24
Form: F-1
Chunk 73
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 any cash proceeds from the exercise of the Series B Warrants because it is highly unlikely that a Series B Warrant holder will elect to pay an exercise price in cash to receive one ADS when they could elect the “zero
exercise price” option in these circumstances to receive more ADSs than they would receive if they did pay an exercise price.

Fundamental Transactions

In the event we consummate a merger or consolidation with or into another person or other reorganization event in which
our ordinary shares are converted or exchanged for securities, cash or other property, or we sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of our assets or we or another person acquire 50% or more of
our outstanding ordinary shares, then following such event, the holders of the Series B Warrants will be entitled to receive upon exercise of the Series B Warrants the same kind and amount of securities, cash or property which the holders would have
received had they exercised the Series B Warrants immediately prior to such fundamental transaction. Any successor to us or surviving entity shall assume the obligations under the Series B Warrants. Additionally, as more fully described in the
Series B Warrants, in the event of certain fundamental transactions, the holders of the Series B Warrants will be entitled to receive consideration in an amount equal to the Black Scholes value of Series B Warrants on the date of consummation of
such transaction.

Exercise Price Adjustments

If at any time on or after the date of issuance there occurs any share split, share dividend, share combination recapitalization or other
similar transaction involving our ordinary shares and the lowest daily volume weighted average price during the period commencing five consecutive trading days immediately preceding and the five consecutive trading days commencing on the date of
such event is less than the exercise price of the Series B Warrants then in effect, then the exercise price of the Series B Warrants will be reduced to the lowest daily volume weighted average price during such period and the number of shares
issuable upon exercise will be proportionately adjusted such that the aggregate price will remain unchanged, subject to a floor price of twenty percent (20%) of the Nasdaq Minimum Price, as defined in Nasdaq Listing Rule 5635(d)(1)(A) (i.e., the
lower of (i) the closing price (as reflected on Nasdaq.com) of the ADSs immediately preceding the execution of the securities purchase agreement for the Series B Warrants, and (ii) the average