Beleaguered Bakkt Completes $32 Million Direct Offering [Forbes]
Bakkt Holdings, Inc. (BKKT)
Company Research
Source: Forbes
The fundraise comes after dire warnings of insolvency at Wall Street's once-hot crypto infrastructure play. Crypto infrastructure firm Bakkt completed two securities purchase agreements collectively worth $32.4 million on Monday after it warned investors of a cash crunch last month. The first transaction involved the issuance of approximately 35 million shares of Bakkt's Class A common stock and pre-funded warrants at about 87 cents per share in a registered direct offering to a set of undisclosed institutional investors, according to the company's filing Bakkt has also issued and sold 2.8 million shares to its former parent and owner of the New York Stock Exchange, Intercontinental Exchange (ICE). The transaction represented the first part of a concurrent direct offering with ICE of 11.5 million Class A shares at the same price. The sale of the remaining shares and warrants is expected to close once Bakkt obtains stockholder approval, which it “expects to seek in the coming mo
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BKKT
News
- Crypto platform Bakkt to lay off 28 employees [Seeking Alpha]Seeking Alpha
- Bakkt Schedules Conference Call to Discuss First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Bakkt Schedules Conference Call to Discuss First Quarter 2024 ResultsBusiness Wire
- Bakkt announces 1-for-25 reverse stock split [Seeking Alpha]Seeking Alpha
- Bakkt Announces Reverse Stock Split [Yahoo! Finance]Yahoo! Finance
BKKT
Earnings
- 3/25/24 - Miss
BKKT
Sec Filings
- 5/3/24 - Form 8-K
- 4/29/24 - Form 4
- 4/29/24 - Form SC
- BKKT's page on the SEC website