secwatch.observer — SEC 8-K summary
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Issuer:     Akari Therapeutics Plc (AKTX)
CIK:        0001541157
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001104659-24-030777
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Akari Therapeutics to merge with Peak Bio; Akari to issue ~50% of post-merger ADSs
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- Akari acquires Peak Bio via merger; Peak Bio survives as wholly-owned subsidiary.
- Consideration: Akari ADSs representing ~50% of outstanding Akari ADSs post-closing, adjusted for net cash.
- Voting agreements with ~39.5% of Akari shareholders and ~39.3% of Peak Bio stockholders to vote in favor.
- Conditions include $10M PIPE investment, S-4 effectiveness, Nasdaq listing, and no material adverse effect.
- Termination fee of $300,000 plus expense reimbursement up to $1.5 million under specified circumstances.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1541157/000110465924030777/0001104659-24-030777-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1541157/000110465924030777/tm247836d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-030777

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