Akari Therapeutics, Plc announced it has entered into definitive securities purchase agreements to issue 7,947,540 American Depository Shares at a price of $1.55 per American Depository Shares for gross proceeds of approximately $12,318,687 led by existing investors including Ray Prudo, chairman of the company on July 7, 2021. The transaction will include participation from certain accredited and institutional investors. Each American Depository Shares represents 100 ordinary shares of the company.

The closing of the transaction is expected to take place during or before the week of July 12, 2021, subject to the satisfaction of customary closing conditions. The securities issued in the transaction are under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D.