Akari Therapeutics raises ~$1.615M in private placement of ADSs for working capital

Akari Therapeutics Plc

Pricing at lower of $1.57 or 0.7× 15-day VWAP, floor $1.12 per ADS, each ADS representing 2,000 ordinary shares.
Private placement expected to close on or about March 21, 2024, subject to customary conditions.
Placement agent Paulson Investment to receive 10% cash fee and warrants exercisable at 125% of offering price for 5 years.
Company agreed to file registration statement for resale of the ADSs by March 31, 2024.
Exchange cap of 1,320,616 ADSs (19.99% of outstanding ordinary shares) unless shareholder approval obtained.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Akari Therapeutics Plc entered into Purchase Agreement with certain existing investors valued at approximately $1,615,000 (effective 2024-03-11).

Action: entry
Agreement: equity purchase
Counterparty: certain existing investors
Value: approximately $1,615,000
Effective: 2024-03-11

Exact text from the filing

On March 11, 2024, Akari Therapeutics, Plc (the “ Company ”) entered into a definitive agreement (the “ Purchase Agreement ”) with certain existing investors, pursuant to which the Company agreed to sell and issue in a private placement (the “ Private Placement ”) approximately $1,615,000 of unregistered American Depository Shares (“ ADSs ”)

View on SEC.gov

284 material agreements filed in the last 30 days. Browse all material agreements →

Akari Therapeutics Plc filing history →

Source: SEC EDGAR

accession 0001104659-24-033087

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.