KRNL SEC filings, in plain English
Everything Kernel Group Holdings, Inc. has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Kernel Group Holdings, Inc. called an extraordinary general meeting for July 31, 2024, record date July 10, 2024, to approve the business combination contemplated by an agreement and plan of merger dated March 3, 2023 with AIRO Group, Inc. as parent company and Kernel Merger Sub. Each Kernel ordinary share, Class A and Class B founder shares alike, carries one vote. The proxy discloses that as of July 3, 2024 the Kernel restricted shareholders owned approximately 93.7% of Kernel's issued and outstanding ordinary shares, and warrants become exercisable 30 days after closing. Why it matters: Insiders holding roughly 93.7% of the outstanding shares means the public float has been reduced to about 6.3% by prior redemptions, so the deal vote is a foregone conclusion and remaining public holders have no practical say. It also means almost no trust cash is left to fund AIRO, making the combination dependent on outside financing. For anyone still holding public shares, the redemption right at trust value is the only meaningful economic decision at this meeting, since the outcome of the vote itself is already determined by the restricted shareholders.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2024-08-05
SpacBrain reads this as the agreement may be terminated from 2024-08-05.
The clause …“date pursuant to the original Business Combination agreement, (the “Outside Date”) from August 2, 2023, to August 5, 2024. On February 1, 2024, the Company held an extraordinary general meeting of its shareholders pursuant to”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2023-11-13trust $309.2M → $67.8M -78%deadline 2024-02-05 → 2024-08-05
trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $309.2M$67.8M
- Combination deadline
- 2024-02-052024-08-05
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $1.4Mnot matched in this filing
SpacBrain reads this as $241,415,104 left the trust between the two filings.
The clause …“at Fair Value Level 1 Level 2 Level 3 December 31, 2023 Assets Investments held in Trust Account: Cash or demand deposit account $ 67,819,662 $ 67,819,662 $ — $ — Liabilities Warrant liability – Public Warrants $ 304,750 $ — $”…
SpacBrain reads this as 182 days later than the previous record.
The clause “Company to extend the Termination Date by up to six (6) one-month extensions to August 5, 2024 provided that if any Extended Deadline ends on a day that is not a business day (the “Third Extension Amendment Proposal”). In connection with”…
The clause “4-15, “ Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern, ” the Company has determined that the liquidity condition, the date of the mandatory liquidation and subsequent dissolution raises substantial”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2023-03-29deadline 2023-08-05 → 2024-08-05
combination deadline, sponsor loans outstanding, trust account +31 moved · 5 with no prior record of ours
- Combination deadline
- 2023-08-052024-08-05
- Sponsor loans outstanding
- not previously extracted$1.6M
- Trust account
- $309.2M · unchanged
- Going-concern doubt
- stated · unchanged
- Mandate language
- We intend to focus our search on business combination target…not matched in this filing
- Redeemable shares
- 30.5Mnot matched in this filing
SpacBrain reads this as 366 days later than the previous record.
The clause …“unable to raise additional funds to alleviate liquidity needs and complete a business combination by August 5, 2024 then the Company will cease all operations except for the purpose of liquidating. The liquidity condition and date for”…
The clause …“principal of $ 250,000 . As of December 31, 2023 and December 31, 2022, the outstanding balance under the First, Second, and Third Polar Fund Convertible Promissory Notes amounted to an aggregate of $ 1,650,000 and $ 0 , respectively.”…
The clause …“at Fair Value Level 1 Level 2 Level 3 December 31, 2022 Assets Investments held in Trust Account: Money market funds $ 309,234,766 $ 309,234,766 $ — $ — Liabilities Warrant liability – Public Warrants $ 86,854 $ 86,854 $ — $ —”…
The clause …“accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern.” ● Because we instructed Continental Stock Transfer & Trust Company to hold the funds in”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.