8-K
filed November 14, 2024, 6:59 PM ET
CIK 0001834645
M&A
confidence high
sentiment neutral
materiality 1.00
Peak Bio, Inc.: M&A transaction — Peak Bio completes merger with Akari; exchange ratio 0.2935, 48.4% ownership
Peak Bio, Inc.
- Each Peak Bio share converted into 0.2935 Akari ADS; Peak stockholders own ~48.4% of combined company.
- Outstanding convertible notes with $8.4M principal converted into 19.4M Peak Bio shares pre-merger.
- Concurrent private placement of 1.71M Akari ADS and warrants raises $3.2M gross proceeds.
- All prior directors resigned; Samir R. Patel appointed President and Secretary post-merger.
- Peak Bio becomes wholly-owned subsidiary of Akari; charter and bylaws amended.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
James Neal resigned as Director at Peak Bio, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Hoyoung Huh, MD, PhD, James Neal and Sandip Patel resigned as directors of the Company and any committees thereof.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Samir R. Patel was appointed as President and Secretary at Peak Bio, Inc..
- Action
- appointed
- Role
- President and Secretary
Exact text from the filing
Samir R. Patel, M.D. was appointed to serve as President and Secretary of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Hoyoung Huh resigned as Director at Peak Bio, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Hoyoung Huh, MD, PhD, James Neal and Sandip Patel resigned as directors of the Company and any committees thereof.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sandip Patel resigned as Director at Peak Bio, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Hoyoung Huh, MD, PhD, James Neal and Sandip Patel resigned as directors of the Company and any committees thereof.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Peak Bio, Inc. underwent a change of control involving Akari Therapeutics, Plc (closed 2024-11-14).
- Action
- change of control
- Counterparty
- Akari Therapeutics, Plc
- Closing
- 2024-11-14
Exact text from the filing
On November 14, 2024, Peak Bio Inc. (the “Company”) completed the previously announced strategic combination (the “Closing”) contemplated by the Agreement and Plan of Merger by and among the Company, Akari Therapeutics, Plc, a public company limited by shares under the laws of England and Wales (“Akari”) and Pegasus Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Akari (“Merger Sub”), as amended by that certain side letter dated August 15, 2024 (the “Merger Agreement”), pursuant to which, upon the terms and subject to the conditions thereof, Merger Sub was merged with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary of Akari.
View on SEC.gov
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