Announces Closing of $5.0 Million Registered Direct Offering and Concurrent Private Placement

Core Viewpoint - Biodexa Pharmaceuticals PLC has successfully closed a $5.0 million registered direct offering and a concurrent private placement to fund its development programs and working capital needs [1][2]. Group 1: Offering Details - The registered direct offering included 5,050,808 American Depositary Shares (ADS) and 278,975 pre-funded warrants, priced at $0.94 per ADS [1]. - The net proceeds from the offering were approximately $4.2 million after deducting fees and expenses [2]. - The concurrent private placement involved the issuance of unregistered Series J and Series K warrants, each allowing the purchase of up to 5,329,783 ADS [3]. Group 2: Use of Proceeds - The proceeds from the offering will be used to fund development programs, including a final match payment for a $17 million grant from the Cancer Prevention Research Institute of Texas (CPRIT) and to initiate a Phase 3 clinical trial of eRapa for Familial Adenomatous Polyposis (FAP) [2]. Group 3: Warrant Details - The pre-funded warrants have an exercise price of $0.0001 per ADS and do not expire [4]. - Series J and Series K warrants have an exercise price of $1.00 per ADS, with Series J expiring on the fifth anniversary and Series K on the first anniversary of issuance [4]. Group 4: Company Overview - Biodexa Pharmaceuticals PLC is a clinical stage biopharmaceutical company focused on developing innovative products for diseases with unmet medical needs, including eRapa for FAP and tolimidone for type 1 diabetes [11][12][13]. - The company is headquartered in Cardiff, UK, and utilizes proprietary drug delivery technologies to enhance the bio-delivery of its medicines [15].