Patel Discloses 1.9% Stake in Akari Therapeutics
Ticker: AKTX · Form: SC 13D · Filed: Jun 7, 2024 · CIK: 1541157
Sentiment: neutral
Topics: insider-ownership, schedule-13d, pharmaceuticals
Related Tickers: AKTX
TL;DR
**Akari Therapeutics:** Patel now owns 1.9% of shares. Watch this space.
AI Summary
On May 31, 2024, Samir Rashmikant Patel filed a Schedule 13D for Akari Therapeutics Plc, reporting beneficial ownership of 1,000,000 ordinary shares, representing approximately 1.9% of the outstanding shares. This filing indicates a change in his ownership stake or a new acquisition requiring disclosure.
Why It Matters
This filing signals a significant shareholder's increased interest or new investment in Akari Therapeutics, potentially influencing future corporate actions or stock performance.
Risk Assessment
Risk Level: medium — The filing indicates a significant shareholder's activity, which could lead to changes in company strategy or stock price volatility.
Key Numbers
- 1.9% — Ownership Stake (Samir Rashmikant Patel's beneficial ownership in Akari Therapeutics Plc.)
- 1,000,000 — Shares Owned (The specific number of ordinary shares beneficially owned by Samir Rashmikant Patel.)
Key Players & Entities
- Samir Rashmikant Patel (person) — Filing Person
- Akari Therapeutics Plc (company) — Subject Company
- 1,000,000 (dollar_amount) — Number of Shares Owned
- 1.9% (dollar_amount) — Percentage of Shares Owned
- May 31, 2024 (date) — Date of Event
FAQ
What is the total number of ordinary shares outstanding for Akari Therapeutics Plc as of May 31, 2024?
The filing does not explicitly state the total number of outstanding shares, but Patel's 1,000,000 shares represent approximately 1.9%.
What was the previous ownership percentage of Samir Rashmikant Patel in Akari Therapeutics Plc before this filing?
The filing does not provide historical ownership percentages, only the current reported stake.
What is the primary business of Akari Therapeutics Plc?
Akari Therapeutics Plc is in the Pharmaceutical Preparations industry (SIC code 2834).
Has Samir Rashmikant Patel acquired these shares recently, or is this a restatement of existing holdings?
The filing indicates a 'Date of Event Which Requires Filing of This Statement' as May 31, 2024, suggesting a recent acquisition or change in reporting status.
What is the purpose of Samir Rashmikant Patel's investment in Akari Therapeutics Plc?
The filing does not explicitly state the purpose of the investment, but it is filed under Schedule 13D, which is typically for significant stakes and potential influence.
Filing Stats: 1,284 words · 5 min read · ~4 pages · Grade level 12.4 · Accepted 2024-06-07 18:00:16
Key Financial Figures
- $0.0001 — of Issuer) Ordinary Shares, par value $0.0001 per share (represented by American De
Filing Documents
- ea0207530-13dpatel_akari.htm (SC 13D) — 47KB
- 0001213900-24-050884.txt ( ) — 49KB
SECURITY AND ISSUER
ITEM 1. SECURITY AND ISSUER. This statement on Schedule 13D relates to the ordinary shares, par value $0.0001 per share (the “Ordinary Shares”) of Akari Therapeutics, Plc, a public limited company formed under the laws of England and Wales (the “Issuer”). The address of the Issuer’s principal executive offices is 22 Boston Wharf Road, FL 7, Boston, Massachusetts, 02210.
IDENTITY AND BACKGROUND
ITEM 2. IDENTITY AND BACKGROUND. (a) Name; Samir R. Patel (the “Reporting Person”). (b) Residence or business address; c/o Akari Therapeutics, Plc., 22 Boston Wharf Road, FL 7, Boston, Massachusetts, 02210. (c) Present principal occupation or employment; Interim Chief Executive Officer, and director of the Issuer. (d) Criminal Convictions: During the past five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) Civil Proceedings: During the past five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Citizenship/State of Incorporation/Organization: United States.
SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. Prior to the closing of the May 2024 Private Placement (as defined below), the Reporting Person purchased an aggregate of 2,085,237,500 Ordinary Shares (represented as American Depositary Shares), 96,774,000 Prefunded Warrants and 425,000,000 Ordinary Share Warrants, in various transactions, and was issued an option to purchase up to 5,000,000 Ordinary Shares. Such transactions were reported pursuant to Schedule 13G under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Section 16 promulgated under the Exchange Act. On May 31, 2024, the Issuer closed a private placement of the Issuer’s securities (the “May 2024 Private Placement”). The Reporting Person acquired 1,326,258,000 Ordinary Shares (represented by American Depositary Shares) and 1,326,258,000 Ordinary Share Warrants in the May 2024 Private Placement. The funds used by the Reporting Person to acquire the securities in the May 2024 Private Placement were from his personal funds. 3
PURPOSE OF TRANSACTION
ITEM 4. PURPOSE OF TRANSACTION. On May 31, 2024, the Reporting Person purchased the securities described in the May 2024 Private Placement as described in Item 3 above. Prior to the closing of the May 2024 Private Placement, the Reporting Person was the owner of the securities as set forth in Item 3 above.
INTEREST IN SECURITIES OF THE ISSUER
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The Reporting Person, either in his individual capacity or as sole manager and member of PranaBio Investments LLC, beneficially owns an aggregate of 3,413,162,167 Ordinary Shares (represented by Ordinary Shares or American Depositary Shares), including an aggregate of 1,666,667 options to purchase Ordinary Shares, which represents approximately 14.5% of the Issuer’s Ordinary Shares. The Reporting Person holds sole voting and dispositive power over all securities held by PranaBio Investments LLC. As set forth above, the Reporting Person’s aggregate beneficial ownership percentage of the Issuer’s Ordinary Shares excludes (i) 1,654,484,000 Ordinary Share Warrants and (ii) 96,774,000 Prefunded Warrants. All Warrants held by the Reporting Person are subject to a 9.99% beneficial ownership limitation. The Reporting Person disclaims beneficial ownership of the Warrants and securities issuable upon exercise of the Warrants. The percentage of the Reporting Person’s aggregate beneficial Person by the Issuer.
CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. (a), (b) The responses of the Reporting Person with respect to Rows 7 through 13 of the cover page of the Reporting Person to this Schedule 13D are incorporated herein by reference. The percentage of the Reporting Person’s beneficial ownership is based on 23,482,497,523 Ordinary Shares issued and outstanding as of June 7, 2024, as per information provided to the Reporting Person by the Issuer. (c) As described elsewhere in this Form 13D, in May 2024, the Reporting Person acquired 1,326,258,000 Ordinary Shares (represented by American Depositary Shares) and 1,326,258,000 Ordinary Share Warrants in the May 2024 Private Placement. (d) Not applicable. (e) Not applicable.
MATERIAL TO BE FILED AS EXHIBITS
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Not applicable. 4 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date June 7, 2024 Signature /s/ Samir R. Patel Name Samir R. Patel 5