Item 8.01 Other Events.
On November 17, 2020, Akers Biosciences, Inc. (the "Company") closed a
previously announced private placement of 9,765,933 shares of its common stock
and warrants to purchase 9,765,933 shares of its common stock resulting in
aggregate gross proceeds to the Company of approximately $18.1 million (the
"Private Placement"). In connection with the Private Placement and pursuant to a
previously reported engagement letter entered into by and among the Company and
Katalyst Securities LLC (the "Placement Agent"), the Company also issued the
Placement Agent a warrant to purchase up to 390,368 shares of the Company's
common stock at an exercise price of $1.85 (the "Placement Agent Warrant"). The
Placement Agent Warrant will be exercisable at any time and from time to time,
in whole or in part, following the date of issuance and for a term of five and a
A form of the Placement Agent Warrant is attached hereto as Exhibit 4.1 and is
incorporated herein by reference. The description of the Placement Agent Warrant
herein does not purport to be complete and is qualified in its entirety by
reference to Exhibit 4.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number Description
4.1 Form of Placement Agent Warrant
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