American Bitcoin Corp. (ABTC): M&A transaction — Akerna sells Ample Organics for $638,000 cash; files pro forma financials

American Bitcoin Corp.

Completed sale of indirect wholly-owned subsidiary Ample Organics on Dec 28, 2023 for $638,000 cash, subject to working capital adjustments.
Pro forma balance sheet as of Sep 30, 2023 shows total assets reduced from $4.18M to $1.72M after removing Ample's goodwill, intangibles, and capitalized software.
Pro forma net loss for nine months ended Sep 30, 2023 improves from ($8.04M) to ($6.99M) after removing Ample's operating results.
Pro forma revenue for nine months ended Sep 30, 2023 declines from $6.97M to $5.31M due to elimination of Ample's software and other revenue.
Pro forma net loss for FY2022 improves from ($59.23M) to ($46.85M) after removing Ample's results and associated impairment charges.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

American Bitcoin Corp. completed a disposition involving Wilcompute Systems Group Inc. for $638,000 (closed 2023-12-28).

Action: disposition
Counterparty: Wilcompute Systems Group Inc.
Consideration: $638,000
Closing: 2023-12-28

Exact text from the filing

On December 28, 2023, Akerna Corp. (the “Company”) completed the sale of its indirect wholly-owned subsidiary Ample Organics Inc. (“Ample”), pursuant to a Share Purchase Agreement (the “SPA”), dated as of December 28, 2023, by and between the Company, the Company’s indirect wholly-owned subsidiary Akerna Canada Ample Exchange Inc. (“Akerna Exchange”), which owned all the outstanding capital stock of Ample, and Wilcompute Systems Group Inc. (the “Buyer”), for cash in the amount of $638,000, subject to customary post-closing adjustments, if any.

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Source: SEC EDGAR

accession 0001213900-24-001238

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