Akerna amends asset sale: cash at closing cut to $2M, outside date extended to Dec 31

American Bitcoin Corp.

Cash at closing reduced from $4M to $2M; MJA to loan additional $500k, raising total loan to $1.5M.
Outside date for closing extended from Sep 29 to Dec 31, 2023.
If Ample shares sold to third party for >$700k, Akerna retains excess proceeds.
Amended note converts principal to stock at 5-day VWAP; capped at 19.99% without stockholder vote.
Akerna seeks stockholder approval for note conversion and other matters at special meeting.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

American Bitcoin Corp. amended First Amendment with Akerna Canada Ample Exchange Inc. and MJ Acquisition Corp. (effective 2023-09-28).

Action: amendment
Agreement: equity purchase
Counterparty: Akerna Canada Ample Exchange Inc. and MJ Acquisition Corp.
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Akerna, Akerna Exchange and MJA entered into a first amendment to the SPA (the “Amendment”) which amends certain of the terms of the SPA.

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American Bitcoin Corp. filing history →

Source: SEC EDGAR

accession 0001013762-23-001743

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