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Akerna ( NASDAQ: KERN ) announced the sale of 365 Cannabis to 365 Holdco with an aggregate value of about $2.8M.
Akerna received a cash payment of $500,000 and the parties agreed to terminate an earn-out payment due and payable to the principals of 365 Holdco.
$100,000 of the cash payment is being held back by 365 Holdco in accordance with the terms of the SPA for post-closing accounts payable adjustments and certain indemnification claims through April 30.