Company: NCNA
Filing Date: 2025-04-04
Form Type: DRS
Source: 0000950123-25-003335
Chunk: 3

Company: NuCana plc
Filing Date: 2025-04-04
Form: DRS
Chunk 3
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s, or the Pre-Funded Warrants, in lieu of ADSs. Each
Pre-Funded Warrant will be exercisable for one ADS. The purchase price of each Pre-Funded Warrant is $ , which is equal to the price per ADS
at which the ADSs are being sold to the public in this offering, minus $ per ADS, and the exercise price of each Pre-Funded Warrant will be $ per ADS.
For each Pre-Funded Warrant that we sell, the number of ADSs offered will be decreased on a one-for-one basis. This offering also
relates to the ADSs issuable upon exercise of the Warrants, or the Warrant Shares, and the ADSs issuable upon exercise of the Pre-Funded Warrants, or the Pre-Funded
Warrant Shares.

Our ADSs are listed for trading on The Nasdaq Capital Market under the symbol “NCNA”. Each ADS represents
twenty-five ordinary shares, nominal value £0.0004 per share. The ADSs may be evidenced by American Depositary Receipts, or ADRs. The last reported sale price of our ADSs on The Nasdaq Capital Market on , 2025 was
$ per ADS. All ADS, Warrant and Pre-Funded Warrant numbers are based on an assumed combined public offering price of $ per ADS and the accompanying
Warrants and $ per Pre-Funded Warrant and the accompanying Warrants, based on the closing price of the Company’s ADSs on , 2025 as reported on The
Nasdaq Capital Market. The actual combined public offering price per ADS and accompanying Warrants, and per Pre-Funded Warrant and accompanying Warrants, will be fixed for the duration of this offering and
will be determined between us and the purchasers based on market conditions at the time of pricing, and may be at a discount to the then current market price of our ADSs. The recent market price used throughout this prospectus may not be indicative
of the actual combined public offering price. The actual combined public offering price may be based upon a number of factors, including our history and our prospects, the industry in which we operate, our past and present operating results, the
previous experience of our executive officers and the general condition of the securities markets at the time of this offering. There is no established public trading market for the Warrants or Pre-Funded
Warrants, and we do not expect a market for the Warrants or the Pre-Funded Warrants