NEW YORK and LONDON (GLOBE NEWSWIRE) October 18, 2017 / Akari Therapeutics, Plc (NASDAQ: AKTX), a biopharmaceutical company focused on the development and commercialization of innovative therapeutics to treat orphan autoimmune and inflammatory diseases, today announced that it has priced its previously announced underwritten public offering of 3,480,000 American Depositary Shares, or ADSs, at a public offering price of $5.00 per ADS. In addition, Akari granted the underwriters a 30-day option to purchase up to an additional 522,000 ADSs at the public offering price, less the underwriting discounts and commissions. Before deducting the underwriting discount and estimated offering expenses payable, Akari expects to receive gross proceeds of approximately $17.4 million, assuming no exercise of the underwriters’ option to purchase additional ADSs. All of the ADSs in the offering are being sold by Akari. Akari intends to use the net proceeds from the offering to fund its ongoing research and clinical development efforts and for working capital and general corporate purposes.
AN INNOVATIVE TARGETED ONCOLOGY COMPANY BUILT ON NEXT GENERATION ANTIBODY-DRUG CONJUGATES (ADC) AND A NOVEL DISCOVERY ENGINE
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