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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 5, 2023
Kernel
Group Holdings, Inc.
(Exact
name of registrant as specified in its charter)
Cayman
Islands
(State
or other jurisdiction of incorporation)
001-39983 |
|
N/A |
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
515
Madison Avenue, 8th Floor - Suite 8078
New
York, New York 10022
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code (646) 908-2659
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class |
|
Trading
Symbol(s) |
|
Name
of Each Exchange on Which Registered |
Units,
each consisting of one Class A Ordinary Share $0.0001 par value, and one-half of one redeemable warrant |
|
KRNLU |
|
The
Nasdaq Stock Market LLC |
Class
A Ordinary Shares included as part of the unit |
|
KRNL |
|
The
Nasdaq Stock Market LLC |
Warrants
included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 |
|
KRNLW |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Kernel
Group Holdings, Inc., a Cayman Islands exempted company (the “Company”) has deposited an aggregate of $150,000
(the “Extension Payment”) into the trust account of the Company for its public shareholders, representing $0.02
per public share remaining outstanding, which enables the Company to further extend the period of time it has to consummate its Initial
Business Combination by one month from October 5, 2023 to November 5, 2023 (the “Extension”). The Extension
is the third of up to six monthly extensions permitted under the Company’s governing documents.
Item
7.01. Regulation FD Disclosure.
On
October 5, 2023, the Company issued a press release announcing the Extension. A copy of the press release is attached as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 7.01 disclosure.
The
furnishing of the press release is not an admission as to the materiality of any information therein. The information contained in the
press release is summary information that is intended to be considered in the context of more complete information included in the Company’s
filings with the U.S. Securities and Exchange Commission (the “SEC”) and other public announcements that the
Company has made and may make from time to time by press release or otherwise. The Company undertakes no duty or obligation to update
or revise the information contained in this report, although it may do so from time to time as its management believes is appropriate.
Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other
public disclosures.
The
information in this Item 7.01 of this Current Report on Form 8-K and the press release shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections
11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 7.01 and in the press release shall
not be incorporated by reference into any filing with the SEC made by the Company, whether made before or after the date hereof, regardless
of any general incorporation language in such filing.
Item
9.01. Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
KERNEL
GROUP HOLDINGS, INC. |
|
|
|
Date:
October 5, 2023 |
By: |
/s/
Suren Ajjarapu |
|
|
Suren
Ajjarapu |
|
|
Chief
Executive Officer |
Exhibit
99.1
Kernel
Group Holdings, Inc. Confirms Funding to Extend Period to Consummate Initial Business Combination
New
York – October 5, 2023 — Kernel Group Holdings, Inc. (NASDAQ: KRNLU, KRNL, KRNLW) (“KRNL” or
the “Company”), a special purpose acquisition company, announced today it caused to be deposited $150,000 into
the Company’s Trust account for its public shareholders, representing $0.02 per public share, allowing the Company to extend the
period of time it has to consummate its initial business combination by one month from October 5, 2023 to November 5, 2023 (the “Extension”).
The Extension is the second of six-monthly extensions permitted under the Company’s governing documents.
Cautionary
Statement Regarding Forward-Looking Statements
Certain
statements in this press release are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, and are subject to the safe harbor created thereby. In some cases, forward-looking statements can be identified
by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,”
“plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,”
“potential,” “outlook,” “guidance” or the negative of those terms or other comparable terminology.
These statements are based on the current beliefs and expectations of the Company’s management and are subject to significant risks
and uncertainties. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause
future events to differ materially from those in the forward-looking statements, many of which are outside of the Company’s control.
These factors include, but are not limited to, a variety of risk factors affecting the Company’s business and prospects, see the
section titled “Risk Factors” in the Company’s Prospectus filed with the SEC on February 4, 2021 and subsequent reports
filed with the SEC, as amended from time to time. Any forward-looking statements are made only as of the date hereof, and unless otherwise
required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Contact:
hd@kernelcap.com
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