share_log

Biodexa Pharmaceuticals | 424B3: Prospectus

SEC announcement ·  May 22 10:19
Summary by Moomoo AI
Biodexa Pharmaceuticals PLC announced the successful exercise of previously issued warrants, resulting in $7 million in gross proceeds. The funds will primarily cover the first year of the eRapa Phase 3 trial in Familial Adenomatous Polyposis (FAP), unlocking additional non-dilutive grant funding. The exercised warrants, initially priced at $2.20, were exercised at a reduced price of $1.50 per American Depositary Share (ADS). The ADSs are registered under an effective SEC registration statement. In exchange for the cash exercise of the warrants, the warrant holders received new unregistered Replacement Warrants to purchase additional ADSs. The Replacement Warrants have an exercise price of $2.50 per ADS and terms of one and five years. The net proceeds from the offering will be used to advance clinical stage...Show More
Biodexa Pharmaceuticals PLC announced the successful exercise of previously issued warrants, resulting in $7 million in gross proceeds. The funds will primarily cover the first year of the eRapa Phase 3 trial in Familial Adenomatous Polyposis (FAP), unlocking additional non-dilutive grant funding. The exercised warrants, initially priced at $2.20, were exercised at a reduced price of $1.50 per American Depositary Share (ADS). The ADSs are registered under an effective SEC registration statement. In exchange for the cash exercise of the warrants, the warrant holders received new unregistered Replacement Warrants to purchase additional ADSs. The Replacement Warrants have an exercise price of $2.50 per ADS and terms of one and five years. The net proceeds from the offering will be used to advance clinical stage assets and for general corporate purposes. The Replacement Warrants and the ADSs issuable upon their exercise have not been registered under the Securities Act of 1933 and were offered only to accredited investors. Biodexa has committed to filing a registration statement with the SEC for the resale of the ADSs issuable upon exercise of the Replacement Warrants.

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more