365 Holdco LLC acquired 365 Cannabis from Akerna Corp. (NasdaqCM:KERN) for $2.8 million on January 11, 2023. Akerna received a cash payment of $0.5 million and the parties agreed to terminate an earn-out payment due and payable to the principals of 365 Holdco LLC with a deemed value of $2.28 million. $0.1 million 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, 2023.

365 Holdco LLC completed the acquisition of 365 Cannabis from Akerna Corp. (NasdaqCM:KERN) on January 11, 2023. Eric Rytter, David J. Mack, David Mangum and Jason Brenkert of Dorsey & Whitney LLP acted as legal advisors to Akerna Corp. and Carl Kleidman, Esq of Viridian Capital Advisors acted as legal advisor to 365 Holdings, LLC in the deal.