Akerna, Corp. Announces Closing of $10 Million Public Offering

DENVER, July 05, 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 closing of its previously announced 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 were sold at a public offering price of $0.23 per unit and the pre-funded units were sold at a public offering price of $0.2299 per pre-funded unit. The pre-funded warrants are 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 have an exercise price of $0.23 per share subject to certain adjustments, are immediately exercisable and will expire five years from the date of issuance.