Biodexa prices $3.5 million offering with warrant inducement

Biodexa Pharmaceuticals PLC announced on June 30, 2026 the pricing of three linked transactions. The deal comprises a $0.8 million registered offering, a $1.0 million concurrent private placement, and a $1.7 million warrant inducement, together described as the Offerings, using existing share capital authorities.¹

The registered piece involves ADSs and pre-funded warrants. The Registered Offering consists of 282,952 American depositary shares, or pre-funded warrants issued instead, priced at $2.85 per ADS.¹ The Private Offering consists of pre-funded warrants for 350,877 ADSs, priced at $2.8499 each.¹

As part of the arrangement, holders of existing Series L warrants agreed to exercise them early. In exchange for immediate cash exercise of those Existing Warrants, the company agreed to lower the exercise price to $2.85 and, pending shareholder approval, issue new unregistered Series O warrants covering 1,219,512 ADSs.¹

Investors will also receive additional warrants tied to the registered and private tranches. Subject to shareholder approval, the investor will get Series M warrants for up to 282,952 ADSs tied to the Registered Offering and Series N warrants for up to 701,754 ADSs tied to the Private Offering, all carrying a $2.85 exercise price and a five-year term starting once shareholder approval is obtained.¹

The Offerings are set to close around July 1, 2026, subject to customary closing conditions, with total gross proceeds to the company expected near $3.5 million before fees.¹ Biodexa said it intends to use net proceeds to fund development programs, working capital, and other general corporate purposes.¹ Maxim Group LLC is serving as sole placement agent and warrant inducement agent for the transactions.¹