Akari Therapeutics director exercises pre-funded warrants
Akari Therapeutics Plc director and 10% owner Samir Rashmikant Patel, through PranaBio Investments LLC, exercised pre-funded warrants on July 7, 2026 to acquire 22,474 American Depositary Shares (ADSs).
Rhea-AI Filing Summary
Akari Therapeutics Plc director and 10% owner Samir Rashmikant Patel, through PranaBio Investments LLC, exercised pre-funded warrants on July 7, 2026 to acquire 22,474 American Depositary Shares (ADSs). These exercises delivered 5,799 and 15,466 ADSs at $0.0004 per ADS and 1,209 ADSs at $8.00 per ADS. The related pre-funded warrant positions reported were reduced to zero, and the transactions are not designated as occurring under a Rule 10b5-1 trading plan. Each ADS represents 80,000 ordinary shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
22,474 shares exercised/converted
Exercise
7 txns
Insider
Patel Samir Rashmikant
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Pre-Funded Warrant to purchase American Depositary Shares F1, F2 | 1,209 | $32.00 | $39K |
| Exercise | Pre-Funded Warrant to purchase ADSs F4, F3, F2 | 15,466 | $16.16 | $250K |
| Exercise | Pre-Funded Warrant to purchase ADSs F5, F3, F2 | 5,799 | $16.16 | $94K |
| Exercise | American Depositary Shares representing Ordinary Shares | 1,209 | $8.00 | $10K |
| Exercise | American Depositary Shares representing Ordinary Shares | 15,466 | $0.0004 | $6.19 |
| Exercise | American Depositary Shares representing Ordinary Shares | 5,799 | $0.0004 | $2.32 |
| holding | American Depositary Shares representing Ordinary Shares | -- | -- | -- |
Holdings After Transaction:
Pre-Funded Warrant to purchase American Depositary Shares — 0 contracts (Indirect, PranaBio Investments LLC);
Pre-Funded Warrant to purchase ADSs — 0 contracts (Indirect, PranaBio Investments LLC);
American Depositary Shares representing Ordinary Shares — 98,241 shares (Indirect, PranaBio Investments LLC);
American Depositary Shares representing Ordinary Shares — 3,566 shares (Direct)
Footnotes (5)
- F1. Each American Depositary Share ("ADS") represents 80,000 ordinary shares with a par value of $0.000000005 per ordinary share.
- F2. The pre-funded warrants remain exercisable until fully exercised.
- F3. The pre-funded warrants became exercisable upon shareholder approval, which was obtained on March 2, 2026.
- F4. The combined purchase price per one pre-funded warrant and accompanying Series G Warrant was $16.16.
- F5. On December 16, 2025, the Reporting Person and the Issuer entered into a note cancellation and exchange agreement, pursuant to which, in exchange for the entire outstanding principal amount and all accrued interest on the Issuer's unsecured promissory note held by the Reporting Person, the Issuer issued to the Reporting Person (i) pre-funded warrants (the "Note Exchange Unregistered Pre-Funded Warrants") to purchase up to 5,799 ADSs, at a purchase price of $16.16 per Note Exchange Unregistered Pre-Funded Warrant, and (ii) warrants to purchase up to 5,799 ADSs.
Key Figures
ADSs acquired via warrant exercises: 22,474 ADSs
ADSs from $0.0004 exercises (lot 1): 5,799 ADSs
ADSs from $0.0004 exercises (lot 2): 15,466 ADSs
+5 more
8 metrics
ADSs acquired via warrant exercises
22,474 ADSs
Total American Depositary Shares acquired on July 7, 2026 through exercises of pre-funded warrants
ADSs from $0.0004 exercises (lot 1)
5,799 ADSs
Non-derivative ADSs acquired indirectly via PranaBio Investments LLC at $0.0004 per ADS
ADSs from $0.0004 exercises (lot 2)
15,466 ADSs
Additional ADSs acquired indirectly via PranaBio Investments LLC at $0.0004 per ADS
ADSs from $8.00 exercise
1,209 ADSs
ADSs acquired indirectly via PranaBio Investments LLC at $8.00 per ADS
Exercise price (low)
$0.0004 per ADS
Exercise price for certain pre-funded warrants into American Depositary Shares
Exercise price (high)
$8.0000 per ADS
Exercise price for other pre-funded warrants into American Depositary Shares
Pre-funded warrant purchase price
$16.16 per pre-funded warrant
Combined purchase price per one pre-funded warrant and accompanying Series G Warrant
Ordinary shares per ADS
80,000 ordinary shares
Each American Depositary Share represents 80,000 ordinary shares with $0.000000005 par value
Key Terms
American Depositary Shares, pre-funded warrants, Series G Warrant, note cancellation and exchange agreement, +1 more
5 terms
pre-funded warrants financial
"The pre-funded warrants remain exercisable until fully exercised"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
Series G Warrant financial
"combined purchase price per one pre-funded warrant and accompanying Series G Warrant"
note cancellation and exchange agreement financial
"entered into a note cancellation and exchange agreement, pursuant to which, in exchange"
unsecured promissory note financial
"outstanding principal amount and all accrued interest on the Issuer's unsecured promissory note"
An unsecured promissory note is a written IOU in which a borrower promises to repay a loan plus any interest but does not pledge any asset as collateral. Investors care because it relies solely on the borrower’s ability to pay—like lending money to someone without holding their watch as security—so it usually carries higher interest and higher risk and ranks below secured debt if the borrower defaults, affecting expected recovery and company credit profile.
FAQ
What insider activity did Akari Therapeutics (AKTX) report for Samir Patel on July 7, 2026?
Samir Rashmikant Patel, a director and 10% owner of Akari Therapeutics, exercised pre-funded warrants via PranaBio Investments LLC to acquire 22,474 American Depositary Shares on July 7, 2026. These ADSs were issued upon conversion of pre-funded warrants reported in the same filing.
How many Akari Therapeutics (AKTX) ADSs were acquired through the warrant exercises?
The transactions resulted in the acquisition of 22,474 ADSs of Akari Therapeutics. This total includes separate exercises for 5,799 ADSs, 15,466 ADSs, and 1,209 ADSs, all reported as indirect holdings through PranaBio Investments LLC associated with Samir Patel.
What were the exercise prices for the Akari Therapeutics (AKTX) pre-funded warrants?
Two exercise prices were reported: $0.0004 per ADS for warrants converted into 5,799 and 15,466 ADSs, and $8.00 per ADS for warrants converted into 1,209 ADSs. These amounts reflect the per-ADS exercise prices at which the pre-funded warrants were converted.
Were the Akari Therapeutics (AKTX) insider warrant exercises under a Rule 10b5-1 plan?
No. The transactions reported for Samir Rashmikant Patel are not designated as occurring under a Rule 10b5-1 trading plan. They are reported as exercises of pre-funded warrants and related derivative conversions without an affirmed trading-plan designation.
What is the background of some Akari Therapeutics (AKTX) pre-funded warrants exercised by Samir Patel?
Footnotes state that 5,799 ADSs of pre-funded warrants were issued on December 16, 2025 in a note cancellation and exchange agreement. An unsecured promissory note held by Samir Patel was exchanged for these pre-funded warrants and additional warrants to purchase ADSs.
AI-generated analysis. How Rhea-AI works. Not financial advice.
