Oct. 15 at 5:26 PM
Akari Therapeutics shares fell Wednesday after the oncology biotech announced a registered direct offering of American Depositary Shares (ADS) priced below market value.
The company is selling 3,125,000 ADS at
$0.80 each, with each ADS representing 2,000 ordinary shares—a discount to recent trading levels that likely triggered the drop.
Akari will also issue unregistered warrants in a concurrent private placement: Series E warrants to purchase up to 3,125,000 ADS at
$0.98 per share, exercisable after shareholder approval for five years, and Series F warrants with a 30-month term.
The company expects to raise about
$2.X.5 million in gross proceeds, with closing expected around October 16, 2025. Ladenburg Thalmann & Co. Inc. is acting as exclusive placement agent.
$AKTX