DENVER, Oct. 30, 2020 /PRNewswire/ -- Akerna Corp.
(Nasdaq: KERN), ("Akerna" or the "Company"), a leading compliance
technology provider and developer of the cannabis industry's first
seed-to-sale enterprise resource planning (ERP) software technology
(MJ Platform®), today announced it has closed a public offering of
5,000,000 shares of its common stock at a public offering price of
$2.40 per share.
A.G.P/Alliance Global Partners acted as the sole placement agent
for the offering.
The Company received gross proceeds of approximately
$12,000,000 from the public
offering. After the placement agent's fees and
estimated offering expenses payable by the Company, the Company
received net proceeds of aproximately $11
million. Akerna intends to use the net proceeds from the
offering to fund its growth initiatives, including product
development, sales and marketing, strategic acquisitions, working
capital and general corporate purposes.
The shares were offered by Akerna pursuant to a registration
statement on Form S-1 (File No. 333-249380) previously filed with
the Securities and Exchange Commission (the "SEC") on October 8, 2020 and declared effective by the SEC
on October 27, 2020. The final
prospectus relating to and describing the terms of the offering has
been filed with the SEC and copies are available on the SEC's
website at www.sec.gov or by contacting A.G.P./Alliance Global
Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or via telephone at
212-624-2006 or email: prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Akerna
Akerna (Nasdaq: KERN) is an enterprise software company focused
on compliantly serving the cannabis, hemp, and CBD industry. Based
in Denver, Colorado, the Company's
mission is to create the world's most transparent and accountable
supply chain by building a cannabis technology ecosystem connecting
data points across the global cannabis supply chain from seed to
sale to self. First launched in 2010, Akerna has tracked more than
$20 billion in cannabis sales to date
and is the first cannabis software company listed on Nasdaq.
Using connected data and information to propel the cannabis
industry forward, Akerna empowers businesses, governments,
patients, and consumers to make smart decisions. The Company's
cornerstone technology, MJ Platform, the world's leading
infrastructure as a service platform powers retailers,
manufacturers, brands, distributors, and cultivators. Akerna
also offers a complete suite of professional consulting services
and data analytics for businesses as well as solo sciences, MJ
Freeway, Leaf Data Systems, Trellis, and Ample Organics.
Safe Harbor / Forward-Looking Statements
Certain statements made in this release are "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "should," "future,"
"propose" and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements. Such forward-looking
statements include but are not limited to statements regarding the
use of proceeds from the offering. These forward-looking statements
are not guarantees of future performance, conditions or results,
and involve a number of significant known and unknown risks,
uncertainties, assumptions, and other important factors, many of
which are outside Akerna's control, that could cause actual results
or outcomes to differ materially from those discussed in the
forward-looking statements. Important factors, among others that
may affect actual results or outcomes, include (i) Akerna's ability
to maintain relationships with customers and suppliers and retain
its management and key employees, (ii) changes in applicable laws
or regulations, (iii) changes in the market place due to the
coronavirus pandemic or other market factors, (iv) and other risks
and uncertainties disclosed from time to time in Akerna's filings
with the U.S. Securities and Exchange Commission, including those
under "Risk Factors" therein. You are cautioned not to place
undue reliance on forward-looking statements. All information
herein speaks only as of the date hereof, in the case of
information about Akerna, or the date of such information, in the
case of information from persons other than Akerna. Akerna
undertakes no duty to update or revise the information contained
herein. Forecasts and estimates regarding Akerna's industry and end
markets are based on sources believed to be reliable; however,
there can be no assurance these forecasts and estimates will prove
accurate in whole or in part.
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SOURCE Akerna