- Akari Therapeutics ( NASDAQ: AKTX ) plummets 26% premarket on entering into definitive agreements with healthcare-focused institutional investors, including the Akari Executive Chairman of the Board, Dr. Ray Prudo, for the purchase and sale of 15M Akari ADSs at a purchase price of $0.85/ADS.
- The company further agreed to issue to the investors Series A Warrants and Series B Warrants both to purchase up to an aggregate of 15M ADSs each in a concurrent private placement.
- Net proceeds from the transaction are expected to support advancement of Akari’s two priority pipeline programs investigating nomacopan, a bispecific recombinant inhibitor of complement C5 and leukotriene B4.
- Gross proceeds from the offering are expected to be ~$12.75M and the offering is expected to close on Sept. 14, 2022.
- AKTX shares -26.92% premarket to $0.76.
For further details see:
Akari Therapeutics announces $12.75M registered direct offering