Cannabis Software Company Akerna Completes $10 Million Public Offering

Cannabis technology company Akerna completed a public offering of stock and stock purchase warrants, raising about $10 million in gross proceeds for debt service and other purposes. The Denver-based maker of software for the cannabis industry, including MJ Freeway, announced an underwritten public offering last week. In a going concern warning, the company is pursuing a financial restructuring plan, and Akerna said in a news release late Tuesday that the net proceeds from the $10 million offering will be used for "general corporate purposes, including repayment of our ongoing debt under the convertible notes, working capital, marketing, product development and capital expenditures. "Akerna trades as KERN on the Nasdaq exchange.

Information source: mjbizdaily.com/