Peak Bio enters merger agreement with Akari; stockholders to receive ~50% of Akari ADSs

the Board of Directors of the Company approved an amendment to the Amended and Restated Bylaws of the Company (the " Bylaws Amendment "), which became effective immediately. The Bylaws Amendment requires that, unless the Company consents in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Company, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer, employee or stockholder (including a beneficial owner) of the Company to the Company or the Company’s stockholders, (iii) any action asserting a claim against any director, officer, employee or stockholder (including a beneficial owner) of the Company arising under any provision of the Delaware General Corporation Law (" DGCL ") or the bylaws or the certificate of incorporation of the Company, or (iv) any action asserting a claim governed by the internal affairs doctrine shall, to the fullest extent pe

On March 4, 2024, Peak Bio, Inc., a Delaware corporation (“ Peak Bio ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Akari Therapeutics, Plc, a public company limited by shares incorporated in England and Wales (“ Akari ”), and Pegasus Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Akari (“ Merger Sub ”), pursuant to which, upon the terms and subject to the conditions thereof, Merger Sub will be merged with and into Peak Bio (the “ Merger ”), with Peak Bio surviving the Merger as a wholly-owned subsidiary of Akari.