Biodexa Prices $3.5M in ADSs and Pre-Funded Warrants at $2.85
BDRX•Biodexa priced a $0.8M registered direct offering of 282,952 ADSs at $2.85 each, a $1.0M private placement of 350,877 pre-funded warrants at $2.8499 each, and a $1.7M warrant inducement, raising $3.5M. All warrants have a $2.85 exercise price, subject to shareholder approval, and expire five years post-approval.
1. Financing Structure
Biodexa structured three concurrent offerings totaling $3.5M: a $0.8M registered direct offering of 282,952 ADSs at $2.85 each, a $1.0M private placement of pre-funded warrants for 350,877 ADSs at $2.8499 each, and a $1.7M warrant inducement tied to existing warrant exercises.
2. Warrant Terms
All series of warrants (Series M, N and O) carry a $2.85 exercise price, become exercisable only after shareholder approval to allot underlying shares without triggering preemptive rights, and will expire five years from the date that approval is obtained.
3. Proceeds Allocation and Closing
The offerings are expected to close on or about July 1, 2026, subject to customary conditions, with net proceeds earmarked for ongoing development programs, working capital needs and general corporate purposes.
