Akari Therapeutics Plc SEC Filings

Akari Therapeutics (AKTX) reported an initial beneficial ownership filing on Form 3 for an officer serving as Interim CFO. The filing indicates no securities are beneficially owned, as stated in the remarks. The event date is 10/22/2025, and the form was filed by one reporting person. A Power of Attorney (Exhibit 24) is referenced for the signature authorization.

Akari Therapeutics (AKTX) appointed Kameel Farag as interim CFO, effective October 22, 2025, succeeding prior CFO Torsten Hombeck. Farag brings senior finance experience from Aspen Neuroscience, Ionis, and Amgen, and serves on the Biovie board.

The company entered a Consulting Agreement with Farag and KDF Ventures LLC. Through the end of 2025, compensation is $18,000 per month in cash plus $12,000 in RSUs, vesting monthly. From January 1, 2026 to February 15, 2026, fees increase to $27,000 cash plus $13,000 in RSUs, vesting monthly. The agreement runs to February 16, 2026 and can be extended month‑to‑month at the company’s discretion. In connection with certain capital raises, KDF Ventures may receive additional cash and RSU compensation based on a percentage of total gross proceeds, subject to maximum limits and timing conditions.

Akari Therapeutics (AKTX) launched a primary registered direct offering of 3,125,000 ADSs at $0.80 per ADS, for gross proceeds of $2.5 million. The deal is on a best efforts basis via Ladenburg Thalmann, with no minimum. The company estimates net proceeds of approximately $1.8 million after placement agent fees and offering expenses, and expects delivery around October 16, 2025, subject to customary closing conditions.

In a concurrent private placement, Akari is issuing 3,125,000 Series E warrants and 3,125,000 Series F warrants, each exercisable for one ADS at $0.98 per ADS, beginning on the Shareholder Approval Date. These warrants and the ADSs issuable upon exercise are not registered here. The company plans to file a resale registration statement within 30 days after closing. Akari intends to use net proceeds for working capital, general corporate purposes, and continued R&D, including generating differentiated data on its novel ADC payload. The company states that, together with existing cash, funds are expected to meet capital needs into December 2025. The filing notes expected immediate and substantial dilution of approximately $1.44 per ADS to new purchasers.

Akari Therapeutics entered a registered direct offering of 3,125,000 ADSs at $0.80 per ADS, for expected $2.5 million in aggregate gross proceeds, subject to customary closing conditions. The ADS sale is a takedown from Akari’s effective Form F-3 shelf.

Concurrently, the company issued Series E and Series F warrants in a private placement, each exercisable for up to 3,125,000 ADSs at an exercise price of $0.98 per ADS. Both series become exercisable on the effective date of shareholder approval; Series E carries a five-year term and Series F a thirty‑month term. Akari will file a resale registration for the warrant shares within 30 days of closing and will call a shareholder meeting within 60 days to seek approval, then every 40 days until obtained or the warrants expire.

Ladenburg Thalmann is placement agent, entitled to a 7.2% fee, 0.5% management fee, up to $75,000 expense allowance, and Placement Agent Warrants to purchase 125,000 ADSs at $1.00 per ADS (five‑year term). The purchase agreement includes a 30‑day issuance/registration standstill and a one‑year prohibition on variable rate transactions, in each case with customary exceptions.

Akari Therapeutics (AKTX) furnished an 8-K announcing a $2.5 million registered direct offering. The company disclosed, under Item 7.01 (Regulation FD), that it issued a press release titled “Akari Therapeutics Announces $2.5 Million Registered Direct Offering.” The press release is included as an exhibit and the furnished information is not deemed filed under the Exchange Act.

Akari’s American Depositary Shares, each representing 2,000 ordinary shares, trade on Nasdaq under the symbol AKTX. The filing lists the date of the earliest event as October 15, 2025.

Akari Therapeutics, Plc reports that it has completed its previously disclosed August 2025 unsecured promissory notes financing. The company had agreed to sell notes with a 20% original issue discount for an aggregate purchase price of $3 million, resulting in a total principal amount of approximately $3.8 million.

On September 26, 2025, Akari closed the final tranche of this private placement, issuing $312,500 in aggregate principal amount of August 2025 Notes for a purchase price of $250,000. After this closing, the full approximate $3.8 million principal amount of August 2025 Notes has been issued to investors.

Akari Therapeutics reported several financing changes and new preclinical data. The company amended its April 2023 convertible notes and warrants assumed in its merger with Peak Bio. The maturity of $0.7 million principal of notes was extended to August 31, 2026 and the conversion price was reduced to $0.81 per ADS. The related warrants were extended to August 31, 2030, with 342,420 ADSs now issuable at an exercise price of $0.81 per ADS, and holders will receive about $81,700 of accrued interest.

Akari also closed a second tranche of its August 2025 notes offering, issuing $625,000 principal for $500,000 in proceeds, bringing total August 2025 notes issued to $3.5 million principal. In connection with this, Series A warrants to purchase 4,891,272 ADSs had their expiration extended to April 25, 2030. Separately, Akari described preclinical results for its PH1 antibody-drug conjugate payload showing AR-V7 suppression and combination activity with existing androgen receptor pathway inhibitors in prostate cancer models.

Akari Therapeutics plc provides fragmentary financial and offering details in this S-1 registration extract. The company discloses operating expense line items including general and administrative amounts shown as 9,664 and 3,661 with a combined presentation of 13,325, and merger-related costs of 3,273. Selected other income (expense) items include interest income of 8, multiple interest expense entries (including (244) and (3,130)), a change in fair value of warrant liabilities of 2,085, and various gains such as a gain on extinguishment of lease termination of 4,305 and a gain on settlement of derivative liability of 4,285. Comprehensive (loss) income entries show Net (loss) income of $(19,791), offset in other columns by 272 and 43, producing a combined (19,476) figure. Weighted-average shares used in per-share calculations are reported across columns including 23,888,010,485, 21,919,309,049, and a total of 45,807,319,534. Estimated offering expenses of issuance are itemized as $34,000 accounting, $60,000 legal, $1,000 miscellaneous, totaling $97,000. The filing also lists numerous exhibits and securities agreements, including warrant and deposit agreement forms.

Akari Therapeutics entered into an Ordinary Share Purchase Agreement with White Lion Capital, giving Akari the right, but not the obligation, to sell up to $25,000,000 of newly issued ordinary shares, which may be exchanged for ADSs. Akari can draw on this equity line over a period ending on the earlier of the full $25,000,000 being purchased or August 29, 2028, once a resale registration statement is declared effective. Pricing is based on several notice types, including rapid purchase options tied to the lowest traded ADS prices and VWAP-based purchases at 97%–98% of VWAP.

The agreement caps issuances at 13,039,369,358 ordinary shares, equal to 19.99% of Akari’s outstanding ordinary shares as of the execution date, and includes a Beneficial Ownership Limitation initially set at 4.99%, which the purchaser may increase to 9.99% with notice. Akari will pay fees including a $15,000 document preparation fee and additional cash commitment fees, and may issue commitment shares equivalent to $75,000 if minimum drawdown conditions are not met. Concurrently, Akari agreed to file a Form S-1 to register the resale of the related securities. The company also disclosed that its CFO, Torsten Hombeck, will resign effective October 10, 2025, and then serve as a consultant through at least November 30, 2025 for transition, citing personal reasons.