On May 31, 2024, Akari Therapeutics, Plc closed the transaction. Upon the closing of the Private Placement, the Company issued and sold 3,817,553 ADSs and Warrants to purchase up to 3,817,553 ADSs pursuant to the Purchase Agreement for the aggregate gross proceeds of $14,392,174, and the remaining 212,201 ADSs and Warrants to purchase up to 212,201 ADSs will be issued and sold by the Company at a later date upon the receipt of the proceeds related thereto. The Warrants have a term of 3 years from the closing date of the Private Placement and have cashless exercise provisions.

The Warrants have an exercise price of $1.76 per ADS. The Company paid Paulson Investment Company, LLC a cash fee equal to 8% of the aggregate purchase price for the ADSs and Warrants sold in the Private Placement and issued Paulson at the closing of the Private Placement warrants exercisable to purchase up to 332,380 ADSs, which warrants shall have a term of 5 years from the closing of the Private Placement, have cashless exercise provisions and an exercise price of $1.885 per ADS. The securities to be issued to the purchasers under the Purchase Agreement were offered in reliance on an exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended.

THe transaction included participation from individual investors Charles Steve Theofilos and Kathryn Theofilos for 1,061,007 ADSs and Series C Warrants to purchase up to 1,061,007 ADSs at an exercise price of $1.76 per ADS.