Akari Therapeutics, Plc announced a new financing round totaling $5 million.
The financing includes a registered direct offering and a private placement.
Directors, officers, and executive management show significant participation in the offering.
Financing Details
The offering consists of the issuance and sale of 12,607,487 American Depositary Shares (ADSs) along with unregistered warrants to purchase the same amount.
Pricing Information
The offering was priced at-the-market under NASDAQ rules with a purchase price of $0.3883 per ADS and accompanying warrants.
Investor Participation
The financing involved institutional investors and a new cash investment of more than $1 million from the company's key personnel.
- The financing will provide Akari Therapeutics with approximately $5 million in gross proceeds before expenses and fees.
- The company plans to utilize the funds for research and development, working capital, and general corporate purposes, strengthening its capital structure.
The financing reinforces Akari Therapeutics' commitment to advancing its oncology ADC payload platform and improving its financial position.