Reverse Merger and Private Placement (Details) - USD ($) |
Jun. 17, 2019 |
Apr. 17, 2019 |
Jun. 30, 2019 |
Jun. 30, 2018 |
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Reverse Merger and Private Placement (Textual) | ||||
Merger agreement, description | (a) 283,011 fully vested shares of common stock were allocated to the former holders of MJF profit interest units, resulting in an immediate one-time charge of approximately $3.4 million to be recorded by MJF on June 17, 2019 and (b) 215,063 unvested shares of common stock were allocated to the holders of MJF profit interest units, of which approximately $2.1 million of compensation expense related to such profit interest units will be ratably recognized over an estimated remaining vesting period of 3 years. | (i) increase the size of the MTech board of directors following the closing of the merger from seven (7) to eight (8) directors, (ii) increase the number of directors appointed prior to the Closing by MJF from four (4) to five (5) directors (which additional director will qualify as an independent director under Nasdaq rules) and (iii) revise the classification of directors so that the Class B directors will include two (2) MJF directors and one (1) MTech director. | ||
Common stock issued for consideration | 6,520,099 | |||
Price per share | $ 10.16 | |||
Number of shares vested | 283,010 | |||
Number of shares unvested | 215,063 | |||
Number of shares issuable held in escrow account | 652,010 | |||
Lock-up agreement, description | With respect to 50% of the Consideration Shares, each holder agreed not to engage in a transfer or other transaction until the earlier of (1) one year from the closing of the Business Combination and (2) the date on which Akerna closes a subsequent corporate transaction with an unaffiliated third party that results in all of Akerna's shareholders having the right to exchange their shares for cash, securities or other property. With respect to the remaining 50% of the Consideration Shares, each holder agreed not to engage in a transfer or other transaction until the earlier of (1) one year from the closing the business combination, (2) the date on which Akerna closes a subsequent corporate transaction with an unaffiliated third party that results in all of Akerna's shareholders having the right to exchange their shares for cash, securities or other property and (3) the date on which the closing share price of Akerna common stock equals or exceeds $12.50 per share for any twenty trading days with any thirty trading day period. | |||
Common stock, shares authorized | 75,000,000 | 75,000,000 | ||
Common stock, par value | $ 0.0001 | $ 0.0001 | ||
Proceeds received from the mergers | $ 18,000,000 | |||
Underwriting discounts, commissions and other expenses | $ 4,400,000 | |||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | ||
Merger Agreement [Member] | ||||
Reverse Merger and Private Placement (Textual) | ||||
Common stock, shares authorized | 75,000,000 | |||
Common stock, par value | $ 0.0001 | |||
Preferred stock, shares authorized | 5,000,000 | |||
PIPE Investors [Member] | ||||
Reverse Merger and Private Placement (Textual) | ||||
Securities purchase agreements, description | Whereby MTech issued 901,074 shares of Class A common stock (the "Private Placement Shares") for an aggregate purchase price of $9.2 million (the "Private Placement"), which closed simultaneously with the consummation of the Mergers. Upon the closing of the Mergers, the Private Placement Shares were automatically converted into shares of Akerna common stock on a one-for-one basis. Each PIPE Investor was also granted an option for a period of sixty days to purchase additional shares of Akerna common stock at a price of $10.21 per share. None of these options were exercised within sixty days. |