Cannabis technology company Akerna closed a public offering of shares and share purchase warrants, raising gross proceeds of roughly $10 million for debt servicing and other purposes.
The Denver-based producer of marijuana industry software, including MJ Freeway, announced the underwritten public offering last week.
The company is pursuing a financial restructuring plan amid a going-concern warning.
Business leaders need reliable industry data and in-depth analysis to make smart investments and informed decisions in these uncertain economic times.
Pre-order your 2023 MJBiz Factbook now!
- 200+ pages and 50 charts with key data points
- State-by-state guide to regulations, taxes & opportunities
- Segmented research reports for the marijuana + hemp industries
- Accurate financial forecasts + investment trends
Stay ahead of the curve and avoid costly missteps in the rapidly evolving cannabis industry.
Net proceeds from the $10 million offering will be used “for general corporate purposes, including servicing our ongoing debt obligations under our convertible notes, working capital, marketing, product development and capital expenditures,” Akerna said in a late Tuesday news release.
Akerna shares trade on the Nasdaq exchange as KERN.