Akari Therapeutics PLC plans to offer and sell American depositary shares in an underwritten public offering.

The company also plans to grant the underwriters a 30-day option to buy up to an additional 15% of the ADSs sold in the offering.

Akari intends to use net proceeds to fund its ongoing research and clinical development efforts and for working capital and general corporate purposes.

Cantor Fitzgerald & Co., William Blair & Co. LLC and Canaccord Genuity Inc. are acting as joint book-running managers for the offering.