Core Insights - The CORN NUTS® brand is launching new Partially Popped Corn Kernel varieties, combining the lightness of popcorn with the crunch of traditional corn kernels [1][3] - The new flavors include White Cheddar, Movie Theater Butter, and Kickin' Cheddar, designed to appeal to snack lovers [2][3][7] - The product is packaged in 3-ounce bags, with a retail price range of $1.99 to $2.49, and will be available at select convenience stores [3] Company Overview - The CORN NUTS® brand has been part of Hormel Foods Corporation since 2021 and has a history dating back to 1939 [5] - Hormel Foods Corporation generates approximately $12 billion in annual revenue and operates in over 80 countries [6] - The company is recognized for its corporate responsibility and has received multiple awards for its workplace environment and community service [6][8]

The Uncrewed Air Systems division saw unprecedented revenue growth of 637%, attaining nearly $28M in revenues during 2023, due in large part to its military drone equipment and services sales. According to AIRO's CEO, Joe Burns, "The growth we've seen over the past year is merely the beginning - we expect to further accelerate and continue ramping up production capacity through 2024 and beyond. The demand for our systems is on a global ascent, serving as true force multipliers in challenging operational lan ...

NEW YORK and ALBUQUERQUE, NM, July 10, 2024 (GLOBE NEWSWIRE) -- Kernel Group Holdings, Inc. (NASDAQ:KRNLU, KRNL, KRNLW))) ("Kernel" or the "Company"), a special purpose acquisition company, and AIRO Group Holdings, Inc. ("AIRO Group Holdings"), a middle market aerospace and defense group, are pleased to announce that the proxy/registration statement on Form S-4 ") (File No. 333-272402) originally filed by AIRO Group, Inc. ("ParentCo") with the U.S. Securities and Exchange Commission ("SEC") on June 2, 2023, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-39983 KERNEL GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Indicate by check ...

New York, May 03, 2024 (GLOBE NEWSWIRE) -- Kernel Group Holdings, Inc. (NASDAQ:KRNLU, KRNL, KRNLW))) ("KRNL" or the "Company"), a special purpose acquisition company, announced today that it has elected to extend the period of time it has to consummate its initial business combination by one month from May 5, 2024 to June 5, 2024 (the "Extension"). The Extension is the fourth of six-monthly extensions permitted under the Company's governing documents. Cautionary Statement Regarding Forward-Looking Statement ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to KERNEL GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) | Cayman Islands | 001-39983 | 98-1567976 | | --- | --- | --- | | (State or other jurisdiction of | (Co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-39983 KERNEL GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) | Cayman Islan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ San Francisco, California (415) 404-6356 (Address, including zip code, and telephone number, including area code, of registrant's princ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to________________ KERNEL GROUP HOLDINGS, INC. (Commission File Number) (IRS Employer Identification No.) 515 Madison Avenue, 8th Floor - Suite 8078 New York, New York 1 ...

Company Formation and Purpose - The company was formed as a blank check company for the purpose of effecting a business combination, with no target selected yet [23]. - The company is classified as an "emerging growth company," allowing it to take advantage of certain exemptions from reporting requirements [68]. - The company is also a "smaller reporting company," which allows for reduced disclosure obligations, potentially complicating comparisons with other public companies [203]. Financial Overview - The initial public offering (IPO) raised $304.75 million, with 30,475,000 units sold at $10.00 per unit [25]. - A private placement generated an additional $8.75 million from the sale of 8,750,000 private placement warrants at $1.00 each [26]. - The net proceeds from the initial public offering and the sale of private placement warrants amount to up to $295,338,750, which may be used to complete the initial business combination [136]. - The company has approximately $1,225,000 available outside the trust account to fund working capital requirements [99]. Business Combination Details - The Business Combination Agreement was entered into on March 3, 2023, involving a merger with AIRO Group Holdings [29]. - The merger consideration includes an aggregate value of $770 million, subject to adjustments based on net working capital and net debt [32]. - Conditions for consummation of the merger include shareholder approvals, regulatory approvals, and a minimum net tangible asset test of $5 million [33]. - The initial business combination must involve target businesses with an aggregate fair market value of at least 80% of the net assets held in the trust account [63]. - The company must complete its initial business combination within 24 months (or 30 months with extensions), which may limit negotiation leverage with potential target businesses [84]. Management and Strategy - The management team aims to focus on acquisition opportunities in the Commerce Enablement, Supply Chain, Logistics, and related Technology Infrastructure sectors, targeting businesses with an enterprise value exceeding $1 billion [24]. - The management team has extensive experience in driving growth through optimizing operations and improving technology systems, led by CEO Suren Ajjarapu with over 25 years in technology-based companies [36]. - The management team aims to generate attractive returns for shareholders by enhancing operational performance of acquired companies [49]. - The company is focused on identifying profitable and growing businesses that leverage technology for transformational customer service [45]. - The management team has a strong network of business contacts to facilitate potential acquisition opportunities [47]. Risks and Challenges - The ongoing COVID-19 pandemic may adversely affect the company's ability to find and complete a business combination due to market volatility and restrictions on travel and meetings [86]. - The company may face intense competition from other special purpose acquisition companies, which could increase the cost of finding suitable targets [95]. - The company may face challenges in raising equity and debt financing due to market conditions influenced by COVID-19, impacting its ability to complete a business combination [87]. - The company may not know how many shareholders will exercise their redemption rights at the time of entering into a business combination agreement, complicating transaction structuring [80]. - The company may face write-downs or impairments post-business combination, negatively impacting financial condition and securities value [113]. Shareholder Rights and Redemption - Public shareholders can only redeem their shares for cash under specific circumstances, and if too many shareholders exercise their redemption rights, it may hinder the company's ability to meet closing conditions for a business combination [78]. - The company is obligated to offer public shareholders the right to redeem their shares for cash at the time of the initial business combination [96]. - If the initial business combination is not consummated within the required time period, public shareholders may receive approximately $10.00 per share upon liquidation [126]. - The per-share redemption amount could be less than $10.00 due to potential claims against the trust account [114]. Legal and Regulatory Considerations - The company may face difficulties in protecting shareholder interests due to its incorporation under the laws of the Cayman Islands, which limits the ability to enforce judgments obtained in U.S. courts [207]. - The company may be classified as a Passive Foreign Investment Company (PFIC), which could lead to adverse U.S. federal income tax consequences for U.S. investors [214]. - There is uncertainty regarding the tax implications for shareholders or warrant holders if the company reincorporates in another jurisdiction during its initial business combination [215]. Potential Conflicts of Interest - Potential conflicts of interest may arise due to management's ownership of founder shares and other interests, which will be disclosed in shareholder communications [60]. - The company may engage in business combinations with entities affiliated with its Sponsor, executive officers, or directors, which could lead to potential conflicts of interest [190]. - The sponsor owns 20% of the outstanding ordinary shares, and if shareholder approval is sought, at least 9,937,501 shares (37.5%) or 1,656,251 shares (6.25%) must be voted in favor for the business combination to be approved [77]. Operational Considerations - The company must maintain a minimum shareholders' equity of $2,500,000 and at least 300 public holders to avoid delisting from Nasdaq [156]. - After the initial business combination, the company must demonstrate compliance with Nasdaq's initial listing requirements, including a share price of at least $4.00 and shareholders' equity of at least $5.0 million [157]. - The company may need to rely on loans from its Sponsor or affiliates to fund its search for a target business if net proceeds are insufficient [98]. Share Structure and Securities - The company may issue additional Class A ordinary shares or preference shares, which could dilute existing shareholders' interests [159]. - The company issued a total of 14,375,000 public warrants and 8,750,000 private placement warrants, with the exercise price set at $11.50 per share [170]. - The company may redeem outstanding public warrants at a price of $0.10 per warrant if the Class A ordinary shares close at or above $10.00 for 20 trading days within a 30-day period [168].