AKTX - Akari Therapeutics Announces Existing Investors Support the Company Through a $2 Million Private Placement Financing | Benzinga
BOSTON and LONDON, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Akari Therapeutics, Plc (NASDAQ:AKTX), a late-stage biotechnology company developing advanced therapies for autoimmune and inflammatory diseases, today announced that it closed a private placement financing with existing investors, Akari Chairman Dr. Ray Prudo and Director Samir R. Patel, M.D., on December 29, 2023, resulting in gross proceeds of approximately $2 million.
In connection with the financing, Akari issued 947,868 unregistered American Depository Shares ("ADSs"), each representing 2,000 of the company's ordinary shares, at a purchase price of $2.11 per ADS.
Paulson Investment Company, LLC acted as the exclusive placement agent for this financing.
The ADSs described above were offered and sold in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and have not been registered under the Act or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. There shall not be any offer, solicitation of an offer to buy, or sale of securities in any state or jurisdiction in which such an offering, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Akari Therapeutics
Akari Therapeutics, plc (NASDAQ:AKTX) is a biotechnology company developing advanced therapies for ...