Summary by Futu AI
On February 14, 2024, Bakkt Holdings, Inc. filed an amendment to its Form S-3 registration statement with the Securities and Exchange Commission (SEC). The filing pertains to the potential resale of up to 46,402,403 shares of Class A common stock by the selling stockholder, Apex Fintech Solutions Inc., which may be issued as earnout payments under a Purchase Agreement. The actual number of shares issued will depend on the performance of certain crypto facilitation clients and non-fungible token facilitation business, as well as the closing prices of Bakkt's Class A Common Stock. The shares may be sold from time to time after the registration statement becomes effective, through public or private transactions. The registration statement also indicates that Bakkt Holdings, Inc. is an emerging growth company and may elect to comply with reduced public company reporting requirements. The last reported sale price of Bakkt's Class A Common Stock on the New York Stock Exchange was $1.29 per share as of February 5, 2024.
