On April 3, 2023 Biodexa Pharmaceuticals PLC (AIM: BDRX.L; Nasdaq: BDRX), a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines, reported that, in accordance with the terms of previously issued Pre-Funded Warrants and the associated Price Adjustment Mechanism under the Private Placement, it has issued an additional 10,508,394 Pre-Funded Warrants, calculated by dividing the aggregate subscription amount by 90% of the average of the daily volume weighted average prices of the five trading days prior to the date of this announcement (Press release, Midatech Pharma, APR 4, 2023, View Source [SID1234629804]). The issue of such Pre-Funded Warrants results in the total number of Pre-Funded Warrants issued under the Private Placement being 12,444,558, accounting for the Company’s completed Consolidation and Ratio Change, as detailed in its circular dated 7 March 2023

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Each Pre-Funded Warrant is immediately exercisable into one new ADS (equivalent to five new Ordinary Shares) with an exercise price of US$0.0004.