Transaction Information
Biodexa Pharmaceuticals PLC (NASDAQ: BDRX), announced the closing of a registered direct offering of 22,135,922 American Depositary Shares ("ADS") at a price of $0.15 per ADS for gross proceeds of $3.3 million.
In addition, subject to shareholder approval, investors will be issued in a private placement 33,203,883 Series C warrants and 22,135,922 Series D warrants. Each warrant is exercisable for 1 ADS at an exercise price of $0.20 per warrant. The Series C warrant will expire one year from the initial exercise date and the Series D warrant will expire five years from the initial exercise date.
Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent for the offering.
About Biodexa Pharmaceuticals
Biodexa Pharmaceuticals is a clinical-stage biopharmaceutical company developing a pipeline of products aimed at primary and metastatic cancers of the brain. The Company's lead candidate, MTX110, is being studied in aggressive rare/orphan brain cancer indications including recurrent glioblastoma and diffuse midline glioma. For more information, please go to www.biodexapharma.com.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.