Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 155

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 155
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 violate the beneficial ownership limitation contained in the Warrant Agreements. The Warrant Agreements require
that the abeyance shares instead be held in abeyance and evidenced by the existing warrants. Abeyance means being without or waiting for
an owner. Since the exercise price has been paid, but the abeyance shares were not issued and the existing warrants continue to evidence
the right to the abeyance shares, the existing warrants had effectively become a “pre-funded warrant” and the abeyance shares
may only be issued by us to the Holders of the existing warrants if the Holders notify us that the issuance may occur without violation
of the beneficial ownership limitation.

In
consideration for the immediate exercise of the Series E Warrants and/or Series F Warrants for cash, we issued one Series G Warrant for
each Series E Warrant exercised, and one Series H Warrant for each Series F Warrant exercised.

The
Replacement Warrants were exercisable immediately and expire after five years, for the Series G Warrants, and one year, for the Series
H Warrants, from the date of issuance. The registration statement of which this prospectus forms a part includes the Ordinary Shares (represented
by Depositary Shares) issuable upon exercise of the Replacement Warrants, as well as the Ordinary Shares (represented by Depositary Shares)
received upon exercise of the Series E Warrants and Series F Warrants.

| 79 |

Ladenburg, acted
as warrant inducement agent and financial advisor in connection with the transaction and received a cash fee of 8.0% of the gross proceeds
and reimbursement of certain expenses. We also issued to Ladenburg and certain designees of Ladenburg Warrants Agent Warrants for purchase
of an aggregate of 6,456 Depositary Shares at an exercise price of $62.50. The registration statement of which this forms a part includes
the Depositary Shares issuable upon exercise of these warrants.

We
received gross proceeds of approximately $6.05 million from the warrant exercise, prior to deducting the warrant inducement agent fees
and other expenses.

License and Collaboration Agreement

On
April 25, 2024, we entered into the Emtora License Agreement with Emtora, relating to the license of eRapa, an oral product formulation
of rapamycin (sirolimus), for use in the prevention, treatment, diagnosis, detection, monitoring and/or predisposition testing of all
d