Akari Therapeutics, Plc (AKTX) and Peak Bio Inc. have mutually agreed to a merger that will be implemented via an all-stock transaction. Once merged, the companies will collectively operate under the name Akari Therapeutics, Plc. Their shares are set to continue trading on the Nasdaq Capital Market under the symbol AKTX.
As part of this agreement, Peak's shareholders will be given an equivalent number of shares in Akari for each Peak share they possess. It is predicted that this exchange will result in each company's shareholders owning a near-equal percentage (approximately 50%) of the combined company's equity, calculated on a fully-diluted basis.
