AKERNA CORP WTS - KERNW STOCK NEWS

Akerna Corp. (Nasdaq: KERN) announced the anticipated closing of a merger with Gryphon Digital Mining, Inc. The combined company is expected to begin trading on Nasdaq under the symbol 'GRYP'. A reverse stock split at a ratio of 1-for-20 is also anticipated. The estimated exchange ratio of shares of Akerna’s common stock for Gryphon common stock and Gryphon preferred stock will be approximately 1.5561 shares of Akerna common stock for each one share of Gryphon Common Stock and Preferred Stock based on estimated aggregate merger consideration of 31,539,011 shares of Akerna common stock, on a post-reverse stock split basis. The actual exchange ratio and merger consideration will depend upon the number of shares of Akerna common stock outstanding as of the closing of the Merger. The number of shares of Akerna common stock outstanding at the closing of the Merger will depend upon the price at which Akerna’s outstanding convertible senior secured notes, subordinated secured notes, shares of Series C preferred stock and outstanding amounts due and payable to certain service providers and officers of Akerna are converted into shares of Akerna common stock based on the closing price of Akerna’s common stock on the trading day immediately prior to closing and/or the 5-day volume weighted average price of Akerna’s common stock immediately prior to closing. Immediately after the consummation of the Merger, Akerna equityholders as of immediately prior to the Merger are expected to own approximately 7.5% of the outstanding equity interests of the combined company on a fully diluted basis and former Gryphon equityholders are expected to own approximately 92.5% of the outstanding equity interests of the combined company on a fully diluted basis.

Akerna Corp. (Nasdaq: KERN) has announced a special meeting of stockholders on January 29, 2024, to vote on the proposed merger with Gryphon Digital Mining, Inc. The record date for stockholders entitled to vote is December 21, 2023. Akerna's registration statement on Form S-4 was declared effective by the SEC on January 9, 2024, serving as a proxy statement and prospectus for the Transaction. The declaration of effectiveness by the SEC is a significant step towards the closing of the merger.

Gryphon Digital Mining is gearing up to present at the Ladenburg Thalmann Technology Expo 2023 in New York on April 27, 2023, at 12:30 pm ET. The presentation will be led by CEO Rob Chang, focusing on the proposed merger with Akerna Corp (NASDAQ: KERN) and Gryphon's operational achievements in the bitcoin mining sector. The company promotes a net carbon-neutral approach in its mining operations.

Attendees can access a live webcast of the presentation online. The Expo will showcase around 50 tech companies across various sectors, fostering a platform for interaction between management teams and investors.

For further details, Gryphon encourages stakeholders to stay updated through their official website.

Akerna (Nasdaq: KERN) announced an unsolicited acquisition proposal deemed superior by its Board of Directors. This decision leads to the termination of a previous agreement to sell its software business to POSaBIT. The Board consulted financial and legal advisors, concluding that the new proposal enhances shareholder value. Gryphon Digital Mining, Inc. endorsed this decision, indicating that it will benefit stockholders post-transaction. The undisclosed party will pay the termination fee associated with the POSaBIT agreement. Further details will be shared as negotiations progress and regulatory approvals are secured.

Akerna (KERN) reported its unaudited financial results for Q4 and the full year 2022, highlighting a total revenue decline of 30% year-over-year for Q4 to $2.8 million, and 23% for the full year to $13.6 million. Software revenue also fell by 24% in Q4 to $2.8 million, with a full-year total of $12.9 million, down 19%. The company recorded a net loss of $25.2 million in Q4, widening from a loss of $17.2 million in the previous year. Akerna's gross profit decreased to $1.6 million in Q4, although gross margin improved to 57%. The firm announced the sale of its 365 Cannabis and Last Call Analytics businesses for approximately $2.9 million and a merger with Gryphon Digital Mining to form a carbon-neutral bitcoin miner.

Akerna (Nasdaq: KERN) has provided updates on its strategic transactions with POSaBIT and Gryphon Digital Mining. The company plans to file an S-4 registration statement in 40 days, detailing the concurrent sales of MJ Freeway and Ample Organics to POSaBIT, along with the merger with Gryphon. Akerna intends to submit its annual Form 10-K before this filing. Gryphon is noted for its strong revenue generation, achieving a hashrate of 750 Ph/s and mining 822 bitcoins last year. Additionally, it ranks among the top three bitcoin miners in efficiency and operates with a carbon-negative footprint.

Akerna (Nasdaq: KERN) announced on February 1, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share. Previously, on May 24, 2022, Nasdaq notified Akerna that its stock had failed to meet this requirement. However, as of January 27, 2023, Akerna’s stock closed at $1.00 or higher for ten consecutive days, leading to Nasdaq's confirmation of compliance. Akerna also indicated ongoing proposed transactions with Gryphon and POSaBIT, with plans to file relevant materials with the SEC, including a registration statement on Form S-4, detailing these transactions.

Akerna Corp. (Nasdaq: KERN) has announced a merger with Gryphon Digital Mining in an all-stock transaction, enhancing its portfolio in the bitcoin mining sector. Upon completion, Akerna will be renamed Gryphon Digital Mining, focusing on ESG-committed, carbon-neutral operations. Gryphon has consistently ranked among the top bitcoin miners, with a potential revenue-generating capacity of 1.1 EH/s. Concurrently, Akerna will divest its cannabis software business to POSaBIT for $4 million, which will be used to settle outstanding debts. Stakeholder approvals are required for both transactions, and Akerna's transition to a bitcoin-focused entity is expected to enhance shareholder value.