POSaBIT Systems Corporation cancelled the acquisition of MJ Platform/Leaf Data Systems/Ample Organics Inc. from Akerna Corp.

POSaBIT Systems Corporation entered into an agreement to a acquire MJ Platform/Leaf Data Systems/Ample Organics Inc. from Akerna Corp. for $4 million on January 27, 2023. POSaBIT will pay $4 million to purchase MJ Platform, Leaf Data Systems, and Ample Organics. The Transactions is subject to approval of the stockholders of Akerna. As part of the transaction, POSaBIT raised $11 million through a mix of debt and equity financing from Perga Capital, where the acquisition will be funded with a portion of up to $11 million of committed capital comprised of $3.0 million of equity and up to $8 million of debt. POSaBIT?s current workforce of 60 to about 100 employees. It will also obtain more than 350 new clients, growing its total customer base to nearly 900. Akerna Corp. also Announces Merger with Gryphon Digital Mining. The acquisition is expected to close in second quarter of 2023. Steven B. Stokdyk of Latham & Watkins LLP acted as legal advisor to Akerna Corp.

POSaBIT Systems Corporation cancelled the acquisition of MJ Platform/Leaf Data Systems/Ample Organics Inc. from Akerna Corp. on April 5, 2023. POSaBIT announced the receipt of a notice of termination (the ?Notice?) from Akerna Corp. The Notice states that Akerna has determined that a third party proposal for the Acquired Companies (the ?Alternative Offer?) is reasonably likely to result in a superior offer under the definitive agreement. As a result and in accordance with their fiduciary duties, the Akerna's Board approved the termination of the agreement for the sale of its software business to POSaBIT. As a result of the termination, Akerna paid POSaBIT a termination fee and reimbursement for expenses of $0.2 million in June 2023.