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 and 2,891,781 pre-funded units.

Each ADS unit, priced at $3.28, includes one American depositary share representing 100,000 ordinary shares and two Series L warrants. Each pre-funded unit, priced at $3.2799, contains one pre-funded warrant to purchase one ADS and two Series L warrants.

The Series L warrants will be exercisable immediately upon issuance at $3.28 per ADS and expire five years from the date of issuance. The securities comprising the units are immediately separable and will be issued separately.

The company expects to receive approximately $10 million in gross proceeds before deducting placement agent fees and other offering expenses. Biodexa stated it intends to use the net proceeds to fund development programs, working capital and other general corporate purposes.

The offering is expected to close on December 19, 2025, subject to customary closing conditions. Maxim Group LLC serves as the sole placement agent.

The securities are being offered under a registration statement on Form F-1, which 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, with lead programs including eRapa for Familial Adenomatous Polyposis and Non-Muscle Invasive Bladder Cancer, tolimidone for type 1 diabetes, and MTX110 for aggressive brain cancer indications.

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