<SEC-DOCUMENT>0001213900-19-016804.txt : 20191206
<SEC-HEADER>0001213900-19-016804.hdr.sgml : 20191206
<ACCEPTANCE-DATETIME>20190827164003
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-19-016804
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Akerna Corp.
		CENTRAL INDEX KEY:			0001755953
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1601 ARAPAHOE ST.
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
		BUSINESS PHONE:		888-932-6537

	MAIL ADDRESS:	
		STREET 1:		1601 ARAPAHOE ST.
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MTech Acquisition Holdings Inc.
		DATE OF NAME CHANGE:	20181015
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AKERNA CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1601 Arapahoe St.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Denver, Colorado 80202</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">August 27, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>VIA EDGAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Office of Information Technologies and Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, DC 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Attn: Jan Woo, Legal Branch Chief</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Akerna Corp.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Registration Statement on Form S-3</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Filed July 17, 2019</B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>File: No. 333-232694</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Ms. Woo:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Akerna Corp. (the &ldquo;<B>Company</B>&rdquo;,
&ldquo;<B>Akerna</B>&rdquo;, &ldquo;<B>we</B>&rdquo;, &ldquo;<B>us</B>&rdquo; or &ldquo;<B>our</B>&rdquo;) hereby transmits our
response to the comment letter received by us from the staff (the &ldquo;<B>Staff</B>&rdquo;) of the Securities and Exchange Commission
(the &ldquo;<B>Commission</B>&rdquo;), dated August 13, 2019, regarding the Company&rsquo;s Registration Statement on Form S-3
previously filed for the Staff&rsquo;s review on July 17, 2019 (the &ldquo;<B>Registration Statement</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For the Staff&rsquo;s
convenience, we have repeated below the Staff&rsquo;s comments in bold, and have followed each comment with the Company&rsquo;s
response. Disclosure changes made in response to the Staff&rsquo;s comments have been made in the Company&rsquo;s Amendment No.
1 to Registration Statement on Form S-3 (the &ldquo;<B>Amended Registration Statement</B>&rdquo;), which is being submitted with
the Commission contemporaneously with the filing of this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Registration Statement on Form S-3</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Prospectus Summary, page 1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 0in"></TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Please
    provide a brief summary of the recent SPAC merger, the reorganization, the change in control of MTech Acquisition Corp. (&ldquo;MTech&rdquo;),
    and the concurrent private placements that resulted in the current status of Akerna. In your summary, please clarify the concentration
    of ownership of management and principal stockholders, and disclose the number and percentage of public SPAC common stockholders
    that redeemed their shares for their respective portion of the SPAC trust fund.</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">We have revised our disclosure on
pages 1 through 2 of the Amended Registration Statement to include the summary and information requested by the Staff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Risk Factors, page 18</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
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    <TD STYLE="width: 0in"></TD>
    <TD STYLE="width: 0.5in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Your
    forum selection provision in your Certificate of Incorporation identifies the Court of Chancery of the State of Delaware as
    the exclusive forum for certain litigation, including any &ldquo;derivative action.&rdquo; Please disclose whether this provision
    applies to actions arising under the Securities Act or Exchange Act. In that regard, Section 27 of the Exchange Act creates
    exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the
    rules and regulations thereunder, and Section 22 of the Securities Act creates concurrent jurisdiction for federal and state
    courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations
    thereunder. If the provision applies to Securities Act claims, please revise your prospectus to state that there is uncertainty
    as to whether a court would enforce such provision and to state that stockholders will not be deemed to have waived the company&rsquo;s
    compliance with the federal securities laws and the rules and regulations thereunder. If this provision does not apply to
    actions arising under the Securities Act or Exchange Act, please ensure that the exclusive forum provision in the governing
    documents states this clearly.</B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">We respectfully advise the Staff
that by its terms, the forum selection provision does not exclude stockholders from suing in federal court for claims under the
federal securities laws. In response to the Staff&rsquo;s comment, we have added the risk factor referenced on page 27 of the
Amended Registration Statement, which provides the choice of forum provision does not exclude stockholders from suing in federal
court for claims under the federal securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Plan of Distribution, page 33</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Please
clarify whether any of your selling stockholders are subject to a lock-up agreement and, if so, how the restrictions on resale
will affect the offering.</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Various selling stockholders are
subject to a lock-up agreement. As such, despite the registration of their shares on the Amended Registration Statement, they
cannot sell such shares until certain conditions provided in the lock-up agreement are met. We have added disclosure describing
the lock-up agreement and such conditions on pages 1 and 35 of the Amended Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><U>Incorporation of Documents By Reference, page 37</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Please
incorporate the MTech periodic reports filed since the end its last completed fiscal year. Please refer to Item 12 of Form S-3
for further guidance. We note that your Form 10-Q for MTech filed on May 15, 2019 is not incorporated by reference.</B></FONT></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">We have incorporated by reference the financial statements
and related notes for the three months ended March 30, 2019 and 2018, which were filed as Exhibit 99.3 to Form 8-K, filed with
the Commission on June 21, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 355pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We thank the Staff for its review of the foregoing.
If you have further comments, we ask that you forward them by electronic mail to our counsel, Tamar Donikyan, Esq. at tdonikyan@egsllp.com
or by telephone at (212) 370-1300.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 60%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly
    yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Jessica Billingsley</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jessica Billingsley,
    Chief Executive Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0.3in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cc:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ellenoff
Grossman &amp; Schole LLP</FONT></TD>
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