Company: BDRX
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001214659-25-016821
Chunk: 23

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-11-17
Form: F-1
Chunk 23
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 the date of issuance and ending on the First Reset Date, and (b) 50% of the Latest NASDAQ Closing Price, while the number of Depositary Shares issuable upon exercise will be increased such that the aggregate exercise price of the Series L Warrants on the issuance
date for the Depositary Sharesunderlying the Series L Warrants then outstanding shall remain
unchanged. Subsequently, at 4:01 p.m. Eastern time on the Second Reset Date, the exercise price of the Series L Warrants will be reset
to a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest VWAP during the period
beginning on the 8th trading day after the date of issuance and ending on the Second Reset Date, and (b) 30% of the Latest NASDAQ Closing
Price, while the number of Depositary Shares issuable upon exercise will be increased such
that the aggregate exercise price of the Series L Warrants on the issuance date for the Depositary Sharesunderlying the Series L Warrants then outstanding shall remain unchanged. Any reduction to the exercise price of the Series
L Warrants and resulting increase in the Depositary Sharesunderlying the Series L Warrants
will be subject to a floor price. The floor price will be equal to 30% of the Latest NASDAQ Closing Price. For the avoidance of doubt,
the lower that the stock price of our Depositary Shares is on the First Reset Date and Second Reset Date, as applicable, the more shares
that will be issuable pursuant to the Series L Warrants as a result of the each reset, subject to the floor price of 50% of the Latest
NASDAQ Closing Price on the First Reset Date, and 30% of the Latest NASDAQ Closing Price on the Second Reset Date.

We are registering 5,724,837,950,000 Ordinary
Shares (in the form of Depositary Shares) under this prospectus, including 5,065,665,000,000 Ordinary Shares (in the form of Depositary
Shares) issuable if the holders of the Series L Warrants elect the zero cash exercise price option at the floor price. As of June 30,
2025, there were 61,952,308,922 Ordinary Shares (representing Depositary Shares) outstanding. If all of the Ordinary Shares offered under
this prospectus were issued and outstanding as of June 30,