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Akari Therapeutics Plc (AKTX) was the issuer in an amended ownership disclosure in which MMCAP International Inc. SPC and MM Asset Management Inc. each reported beneficial ownership of 11,427 American Depository Shares, each convertible into 80,000 ordinary shares. The reported interest represented 0.6% of the class, calculated on a partially diluted basis using 155,758,529,533 ordinary shares outstanding as of August 13, 2026.
Key Figures
Beneficially owned American Depository Shares:11,427 sharesOrdinary shares convertible per American Depository Share:80,000 ordinary sharesPercent of class:0.6%+1 more
4 metrics
Beneficially owned American Depository Shares11,427 sharesEach reporting entity reported this amount.
Ordinary shares convertible per American Depository Share80,000 ordinary sharesConversion amount stated for each American Depository Share.
Percent of class0.6%Calculated on a partially diluted basis.
Ordinary shares outstanding155,758,529,533 sharesAs of August 13, 2026; used for the partially diluted ownership calculation.
Key Terms
beneficially owned, American Depository Shares, partially-diluted basis
3 terms
beneficially ownedfinancial
"Amount beneficially owned: 11,427"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
American Depository Sharestechnical
"owns 11,427 American Depository Shares"
American depository shares are U.S.-listed securities that stand in for a foreign company’s ordinary shares, held by a U.S. bank which issues the ADS so investors can trade the foreign stock in U.S. dollars and on U.S. exchanges. Think of them like a locally wrapped version of a foreign product—easier to buy and sell at home—but they still carry risks from currency differences, foreign rules and potential limits on voting rights, so they affect access, liquidity and investment risk.
partially-diluted basisfinancial
"Percent of class calculated on a partially-diluted basis"
A partially-diluted basis is a way of counting a company’s shares that includes currently outstanding shares plus certain likely additional shares from things like vested options, warrants, and convertible securities, but excludes more speculative or unissued items. For investors it gives a more realistic view of ownership stakes and per-share figures — like earnings per share — by showing dilution that is probable today, much as counting people with purchased tickets (but not those who might buy later) gives a clearer sense of how full a theater really is.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many AKTX shares do MMCAP and MM Asset Management report?
MMCAP International Inc. SPC and MM Asset Management Inc. each reported beneficial ownership of 11,427 American Depository Shares, each convertible into 80,000 ordinary shares. They reported 0.6% of the class on a partially diluted basis.
What voting and disposition powers did the AKTX reporting entities report?
Each entity reported shared voting and dispositive power over 11,427 shares, with zero sole voting power and zero sole dispositive power.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Akari Therapeutics, Plc
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
00972G405
(CUSIP Number)
09/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
00972G405
1
Names of Reporting Persons
MMCAP International Inc. SPC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
11,427.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
11,427.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
11,427.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.6 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: The Reporting Person owns 11,427 American Depository Shares (NASDAQ: AXTX) of the Issuer, each convertible into 80,000 Ordinary Shares, par value $0.000000005, of the Issuer
SCHEDULE 13G
CUSIP Number(s):
00972G405
1
Names of Reporting Persons
MM Asset Management Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
11,427.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
11,427.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
11,427.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.6 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: The Reporting Person owns 11,427 American Depository Shares (NASDAQ: AXTX) of the Issuer, each convertible into 80,000 Ordinary Shares, par value $0.000000005, of the Issuer
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Akari Therapeutics, Plc
(b)
Address of issuer's principal executive offices:
401 E. Jackson Street, Suite 3300, Tampa, FL 33602
Item 2.
(a)
Name of person filing:
i) MMCAP International Inc. SPC
ii) MM Asset Management Inc.
(b)
Address or principal business office or, if none, residence:
i) c/o Mourant Governance Services (Cayman) Limited, 94 Solaris Avenue, Camana Bay, P. O. Box 1348, Grand Cayman KY1-1108, Cayman Islands
ii) 161 Bay Street, TD Canada Trust Tower, Suite 2240, Toronto, Ontario M5J 2S1 Canada
(c)
Citizenship:
i) Cayman Islands
ii) Ontario, Canada
(d)
Title of class of securities:
Ordinary Shares
(e)
CUSIP No.:
00972G405
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
11,427
Represents 11,427 American Depository Shares, each convertible into 80,000 Ordinary Shares
(b)
Percent of class:
0.6%
Percent of class calculated on a partially-diluted basis using 155,758,529,533 Ordinary Shares, par value $0.000000005, outstanding as of August 13, 2026, as reported on the Issuer's 10-Q filed with the Securities and Exchange Commission on August 13, 2026
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
11,427
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
11.427
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
