Akari Therapeutics, Plc announced on November 8, 2024, that its shareholders approved the issuance of shares in connection with the proposed merger with Peak Bio, Inc. The approval was granted at a General Meeting held on November 7, 2024.
Approximately 99% of the shares present at the General Meeting, either in person or by proxy, voted in support of the merger-related share issuance. This overwhelming support signals strong investor confidence in the strategic combination.
With shareholder approval secured, Akari is targeting an official close of the transaction on November 13, 2024. The company expects that upon the merger's completion, its pro-forma financial statements will demonstrate sufficient shareholder equity to address its Nasdaq shareholder deficiency matter.
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