Akerna is regulatory compliance technology company in the cannabis space. Jessica Billingsley (CEO) stated, “As legalisation of cannabis expands across the world, we believe it is imperative that businesses, patients, consumers, and governments have the tracking and compliance technology they need to make informed decisions and comply with applicable regulations."
Akerna was created via a merger with MTech Acquisition Corp and MJ Freeway LLC.
MTech Acquisition Corp was formed and listed for the purpose of entering into a merger.(Cash shell / blank cheque company).
MJ Freeway LLC was a leading seed-to-sale regulatory compliance technology provider and developer of the cannabis industry’s first enterprise resource planning (ERP) platform.
With a split of:
MJ Freeway owning approximately 62.7% of Akerna’s
MTech owning approximately 27.7% of Akerna’s
Previous Private placement owning approximately 9.6% of Akerna’s
Share price movement
On Akerna’s first day of trading the shares closed at $14.85. The second day of trading saw the shares tripling to a closing price of $49.80 before reaching a high of $72.65 on Thursday (389% increase). It has now settled down between $22 to $24.