Akerna Corp. Announces Pricing of $10 Million Public Offering

DENVER, June 30, 2022 (GLOBE NEWSWIRE) -- Akerna Corp. (Nasdaq:KERN) (“Akerna” or the “Company”), a leading enterprise software company and developer of one of the most comprehensive technology infrastructures, ecosystems, and compliance engines powering the global cannabis industry, today announced the pricing of an underwritten public offering of (i) 29,382,861 units of the Company consisting of 29,382,861 shares of common stock together with common stock warrants (the “common warrants”) to purchase up to 29,382,861 shares of common stock and (ii) 14,095,400 pre-funded units, consisting of 14,095,400 pre-funded warrants, with each pre-funded warrant exercisable for one share of common stock, together with common warrants to purchase up to 14,095,400 shares of common stock. The units are being sold at a public offering price of $0.23 per unit and the pre-funded units are being sold at a public offering price of $0.2299 per pre-funded unit. The pre-funded warrants will be immediately exercisable at a nominal exercise price of $0.0001 or on a cashless basis and may be exercised at any time until all of the pre-funded warrants are exercised in full. The common warrants will have an exercise price of $0.23 per share subject to certain adjustments, will be immediately exercisable and will expire five years from the date of issuance. Additionally, the Company has granted the underwriters a 45-day option to purchase up to (i) an additional 6,521,739 shares of common stock and/or (ii) 6,521,739 common warrants and/or (iii) 6,521,739 pre-funded warrants to cover over-allotments, if any, with the total over-allotments not to exceed 13,043,478 shares, including the common stock underlying the common warrants and pre-funded warrants.