Akari Therapeutics raises $5 million in direct offering and placement

Akari Therapeutics Plc (NASDAQ: AKTX) entered into agreements to issue 12,607,487 American Depositary Shares and accompanying warrants in a combined registered direct offering and private placement, the company announced.

The oncology biotechnology company will issue 10,043,774 ADSs in a registered direct offering at $0.3883 per share with warrants, while issuing pre-funded warrants for 2,563,713 ADSs in a private placement at $0.4041 per share with warrants. The Series G warrants carry an exercise price of $0.3883 and a five-year term.

The offering includes participation from company directors, officers and executive management totaling more than $1 million in new cash investment. Ladenburg Thalmann & Co. Inc. serves as the exclusive placement agent.

Gross proceeds are expected to reach approximately $5 million before fees and expenses. The company plans to use net proceeds for research and development, working capital and general corporate purposes. The offering is expected to close December 17, 2025.

In a concurrent transaction, certain note holders agreed to convert approximately $2.5 million of outstanding debt into pre-funded warrants for 6,409,410 ADSs and accompanying warrants at $0.4041 per share.

"The additional capital from this transaction supports key development initiatives for our oncology ADC payload platform, while the reduction in liabilities improves our capital structure," said CEO Abizer Gaslightwala.

The warrant exercises require shareholder approval. Akari develops antibody drug conjugates using spliceosome modulator payloads, with lead candidate AKTX-101 targeting the Trop2 receptor.

The registered portion uses a shelf registration statement filed with the SEC in July 2025. Unregistered securities are issued under private placement exemptions.

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