Biodexa Pharmaceuticals PLC Announces US$3.32 Million Registered Direct Offering - Seite 2

The Registered ADSs described above are being offered pursuant to a shelf registration statement (File No. 333-267932) which became effective on 26 October 2022. The Registered ADSs may be offered only by means of a prospectus supplement that forms a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the Registered Direct Offering will be filed with the U.S. Securities and Exchange Commission (“SEC”). Electronic copies of the prospectus supplement and the accompanying prospectus may be obtained, when available, from the SEC’s website at http://www.sec.gov or from Ladenburg Thalmann & Co. Inc., at Attn: Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, NY 10019 or by e-mail at [e-mail].

Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of the Warrant ADSs.

Current Financial Position

The Company’s cash balance as at 31 December 2022 was approximately £2.84 million which we expect to be sufficient to fund operations into the fourth quarter of 2023. Biodexa’s current cash balance is approximately £3.81 million. Following the Company’s receipt of the net proceeds from the Registered Direct Offering, Biodexa expects its cash resources to remain sufficient to fund operations into the first quarter of 2024.

Accordingly, should the Registered Direct Offering not be completed, the Company would need to seek urgently alternative sources of funding. There can be no guarantee that the Company will be able to find alternative sources of potential funding, which may or may not be on similar commercial terms, and may not be obtainable on a timely basis, or at all. If the Private Placement does not proceed, it is likely that the Company would be unable to continue to develop and commercialise any of its assets and may not be able to continue as a going concern. If any alternative sources of potential funding are not available, the Directors of the Company believe that it is likely that the Company would be forced to enter into administration processes shortly after the forthcoming General Meeting.