Biodexa raises $2.3M via warrant exercise agreement

Biodexa Pharmaceuticals PLC (NASDAQ: BDRX) has entered into a warrant exercise agreement with an existing accredited investor, generating approximately $2.3 million in gross proceeds before financial advisor fees and other transaction expenses, according to a press release.

Under the terms of the agreement, the investor exercised outstanding warrants to purchase 2,204,218 American Depositary Shares at an exercise price of $1.05 per share. The ADSs issued upon exercise were registered under an effective registration statement on Form F-1.

In exchange for the immediate cash exercise of the existing warrants, the investor will receive new unregistered warrants to purchase up to 4,408,436 ADSs. The new warrants carry an exercise price of $1.05, are immediately exercisable upon issuance, and have a five-year term. The transaction was expected to close on or about September 15, 2026, subject to customary closing conditions.

The new warrants were issued in a private placement under an exemption from registration requirements of the Securities Act of 1933. Biodexa said it has agreed to file a registration statement with the U.S. Securities and Exchange Commission covering the resale of ADSs issuable upon exercise of the new warrants.

Maxim Group LLC served as warrant inducement agent and financial advisor for the transaction.

Biodexa is a clinical-stage biopharmaceutical company headquartered in Cardiff, UK, with pipeline programs targeting Familial Adenomatous Polyposis, Non-Muscle Invasive Bladder Cancer, Gastrointestinal Stromal Tumors, and type 1 diabetes.

You May Also Be Interested In

• Beyond Meat ordered to pay $15.4M in trademark infringement case
• Voyager Technologies plans $350M convertible notes offering due 2032
• Four companies sign MoU to deploy BWRX-300 reactors in Europe and UK