Corporate ActionJun 26, 2026, 05:06 PM
Akari Therapeutics to Raise Up to $25M via White Lion Equity Deal
AI Summary
Akari Therapeutics Plc filed an S-1/A to register up to 2,500,000 ADSs for resale by White Lion Capital LLC. Under a Purchase Agreement, Akari has the option to sell up to $25 million worth of Ordinary Shares (represented by ADSs) to White Lion over 36 months to fund operations. This financing mechanism, while providing needed capital, carries a high risk of substantial dilution for existing shareholders. The company also noted a 1-for-40 reverse split of its ADSs on March 31, 2026.
Key Highlights
- Akari entered an agreement with White Lion Capital LLC to sell up to $25,000,000 in Ordinary Shares.
- Up to 2,500,000 ADSs (representing 200,000,000,000 Ordinary Shares) are registered for resale by White Lion.
- Potential for substantial dilution to existing shareholders from the issuance of new ADSs.
- Company may issue 6,361 Commitment ADSs (valued at $75,000) to White Lion under specific conditions.
- On March 31, 2026, a 1-for-40 reverse split of ADSs was effected.
- Akari's ADSs closed at $9.52 on Nasdaq on June 25, 2026.
- The company has a history of operating losses and requires substantial additional capital.
Price Impact
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