Biodexa Pharmaceuticals Plc (BDRX) Form 424B3 — Sep 15, 2026
Biodexa Pharmaceuticals (Nasdaq: BDRX) entered a warrant inducement agreement on September 14, 2026, with an accredited holder who agreed to exercise all outstanding Series M, N and O warrants — 2,204,218 American Depositary Shares in total — at a reduced exercise price of $1.05 per ADS for gross proceeds of approximately $2.3 million. In consideration for the cash exercise, the holder received new unregistered Series P warrants covering up to 4,408,436 additional ADSs, equal to 200% of the shares issued, at the same $1.05 price with five-year terms and immediate exercisability.
Key figures
- Gross Proceeds
- approximately $2.3 million
- Offering Price
- 1.05
- Shares Offered
- 2,204,218 ADSs issued upon cash exercise of existing warrants; new Series P warrants covering up to 4,408,436 additional ADSs
- New warrant term years
- 5
- Warrant coverage ratio
- 200% (2 replacement warrants per warrant exercised)
- Ordinary shares per ads
- 50
- Maxim fee percent of gross
- 8
- Prospectus resale coverage
- 94,300 ordinary shares representing 1,886 ADSs
- Series m warrants exercised
- 282952
- Series n warrants exercised
- 701754
- Series o warrants exercised
- 1219512
- Last closing price sept 14 2026
- 1.12
- Resale registration deadline days
- 15
- Resale registration effectiveness target days
- 45
AI analysis
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