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Akari Therapeutics Announces Proposed Public Offering of American Depositary SharesNEW YORK and LONDON, Oct. 17, 2017 (GLOBE NEWSWIRE) -- 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 intends to offer and sell, subject to market and other conditions, American Depositary Shares, or ADSs, in an underwritten public offering. In addition, Akari intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the ADSs sold in the offering, at the public offering price, less the underwriting discounts and commissions. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. 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. Cantor Fitzgerald & Co., William Blair & Company, L.L.C. and Canaccord Genuity Inc. are acting as joint book-running managers for the offering. The ADSs described above are being offered by Akari pursuant to its shelf registration statement on Form F-3 previously filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on August 20, 2014. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website. Copies of the preliminary prospectus supplement (when available) and accompanying prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by e-mail at [email protected]; William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687, or by e-mail at [email protected]; or Canaccord Genuity Inc., Attention: Equity Syndicate Department, 99 High Street, 12th Floor, Boston, Massachusetts 02110, by telephone at (617) 371-3900, or by e-mail at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement. About Akari Therapeutics Cautionary Note Regarding Forward-Looking Statements For more information Investor Contact: Media Contact: |