Biodexa prices $10 million public offering at $3.28 per unit

Biodexa Pharmaceuticals PLC (NASDAQ: BDRX) announced the pricing of a $10 million public offering consisting of 157,000 American depositary share units priced at $3.28 each and 2,891,781 pre-funded units priced at $3.2799 each.

Each ADS unit includes one American depositary share representing 100,000 ordinary shares and two Series L warrants. Each pre-funded unit contains one pre-funded warrant to purchase one ADS and two Series L warrants. The securities comprising the units are immediately separable and will be issued separately.

The Series L warrants will be exercisable immediately upon issuance at $3.28 per ADS and will expire five years from the issuance date. The offering is expected to close December 19, 2025, subject to customary closing conditions.

Maxim Group LLC serves as the sole placement agent for the offering. The company stated it intends to use net proceeds to fund development programs, working capital and general corporate purposes.

The securities are being offered under a registration statement on Form F-1 that was declared effective by the Securities and Exchange Commission on December 17, 2025.

Biodexa is a clinical-stage biopharmaceutical company developing treatments for diseases with unmet medical needs. The company's development programs include eRapa for Familial Adenomatous Polyposis and Non-Muscle Invasive Bladder Cancer, tolimidone for type 1 diabetes treatment, and MTX110 for aggressive brain cancer indications.

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