Akari Therapeutics announces effectiveness of Form S-4 related to merger

Akari Therapeutics announces the effectiveness of the Form S-4, originally filed with the SEC on September 13, 2024 related to the merger of Akari Therapeutics and Peak Bio, Inc. The Form S-4 was declared effective by the SEC on October 11, 2024 allowing the Company to definitively schedule the General Meeting to be held in relation to the merger. The General Meeting will be held at 9:00 a.m. Eastern Time on Thursday, November 7, 2024 at the Company’s offices in London. On March 5, 2024, Akari and Peak Bio announced a definitive agreement to merge as equals in an all-stock transaction. The combined entity will operate as Akari Therapeutics, Plc, which is expected to continue to be listed and trade on the Nasdaq Capital Market as AKTX. Under the terms of the agreement, Peak Bio stockholders will receive a number of Akari ordinary shares for each share of Peak Bio stock they own, as determined on the basis of the exchange ratio described in the merger agreement. The exchange is expected to result in implied equity ownership in the combined company of approximately 50% for Akari shareholders and approximately 50% for Peak Bio stockholders on a fully diluted basis, subject to adjustment under certain circumstances, including based on each party’s relative level of net cash at the closing of the proposed transaction. The transaction is expected to close in the fourth quarter of this year subject to the satisfaction of customary closing conditions, including approval by the shareholders of both companies.