# EDGAR Filing Document

**Accession Number:** 0001832950
**File Stem:** 0001140361-23-000277
**Filing Date:** 2023-1
**Character Count:** 11492
**Document Hash:** 9a88b3dcb52626fdc1c30ff09b86fdd5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-23-000277.hdr.sgml**: 20230103

**ACCESSION NUMBER**: 0001140361-23-000277

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221228

**FILED AS OF DATE**: 20230103

**DATE AS OF CHANGE**: 20230103

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Gross Mark
- **CENTRAL INDEX KEY:** 0001665838

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39983
- **FILM NUMBER:** 23504183

**MAIL ADDRESS:**
- **STREET 1:** 11840 VALLEY VIEW RD
- **CITY:** EDEN PRAIRIE
- **STATE:** MN
- **ZIP:** 55344
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Kernel Capital Holdings, LLC
- **CENTRAL INDEX KEY:** 0001830397
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39983
- **FILM NUMBER:** 23504185

**BUSINESS ADDRESS:**
- **STREET 1:** 2 ROUSSEAU STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94112
- **BUSINESS PHONE:** 415-404-6356

**MAIL ADDRESS:**
- **STREET 1:** 2 ROUSSEAU STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94112
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Tondon Rakesh
- **CENTRAL INDEX KEY:** 0001841455

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39983
- **FILM NUMBER:** 23504182

**MAIL ADDRESS:**
- **STREET 1:** 2 ROUSSEAU STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94112
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Northart Brett
- **CENTRAL INDEX KEY:** 0001840855

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39983
- **FILM NUMBER:** 23504184

**MAIL ADDRESS:**
- **STREET 1:** 2 ROUSSEAU STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94112
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kernel Group Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001832950
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 2 ROUSSEAU STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94112
- **BUSINESS PHONE:** 415-404-6356

**MAIL ADDRESS:**
- **STREET 1:** 2 ROUSSEAU STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94112

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[x] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Kernel Capital Holdings, LLC<br><sub>(Last) (First) (Middle)</sub><br>2 ROUSSEAU STREET<br><sub>(Street)</sub><br>SAN FRANCISCO, CA 94112<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-12-28 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kernel Group Holdings, Inc. [ KRNL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Northart Brett<br><sub>(Last) (First) (Middle)</sub><br>2 ROUSSEAU STREET<br><sub>(Street)</sub><br>SAN FRANCISCO, CA 94112<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-12-28 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Operating Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kernel Group Holdings, Inc. [ KRNL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Gross Mark<br><sub>(Last) (First) (Middle)</sub><br>2 ROUSSEAU STREET<br><sub>(Street)</sub><br>SAN FRANCISCO, CA 94112<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-12-28 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Executive Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kernel Group Holdings, Inc. [ KRNL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Tondon Rakesh<br><sub>(Last) (First) (Middle)</sub><br>2 ROUSSEAU STREET<br><sub>(Street)</sub><br>SAN FRANCISCO, CA 94112<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-12-28 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Financial Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Kernel Group Holdings, Inc. [ KRNL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Class B ordinary shares | <sup>(1)</sup> | 2022-12-28 |  | S |  |  | 7493750 | <sup>(1)</sup> | <sup>(1)</sup> | Class A ordinary shares | 7493750 | <sup>(2)</sup> | 0 | D<sup>(3)</sup> |  |

---

### Footnotes:

(1) As described in the issuer's registration statement on Form S-1 (File No. 333-252105) under the heading "Description of Securities-Founder Shares", the Class B ordinary shares, par value $0.0001, will automatically convert into Class A ordinary shares, par value $0.0001, of the issuer at the time of the issuer's initial business combination transaction on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like, and certain anti-dilution rights and have no expiration date.

(2) In exchange for the reported securities, the Reporting Persons received the "Purchase Price" and additional consideration (contingent upon closing of the issuer's initial business combination) as defined and set forth in the Form 8-K filed by the issuer with respect to the transactions reported herein. In connection with the reported transactions, each of Brett Northart, Mark Gross and Rakesh Tondon resigned from the issuer's board of directors and from their respective officer positions and, accordingly, cease to be reporting persons for purposes of Section 16.

(3) The reported securities were directly held by Kernel Capital Holdings, LLC (the "Sponsor").  Brett Northart, Mark Gross and Rakesh Tondon control the Sponsor, and as such, share voting and investment discretion with respect to the securities held by the Sponsor and may be deemed to have beneficial ownership of the securities held directly by the Sponsor, provided that, they each disclaim beneficial ownership of the securities reported hereby except to the extent of their respective pecuniary interest therein, and this report shall not be deemed an admission by any of the foregoing of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.

**Signature:** Kernel Capital Holdings, LLC /s/ Rakesh Tondon By: Rakesh Tondon Title: Chief Financial Officer  
**Date:** 2023-01-03

**Signature:** /s/ Rakesh Tondon as attorney in fact for Brett Northart  
**Date:** 2023-01-03

**Signature:** /s/ Rakesh Tondon as attorney in fact for Mark Gross  
**Date:** 2023-01-03

**Signature:** /s/ Rakesh Tondon  
**Date:** 2023-01-03

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**