Bakkt Holdings, a digital asset platform, has announced the offering of up to 11,534,025 shares of its Class A Common Stock, along with Class 1 and Class 2 Warrants to purchase up to 5,767,012 shares each. The offering is detailed in a prospectus supplement filed pursuant to Rule 424(b)(5) under the Registration No. 333-271361. The shares and warrants are being sold to Intercontinental Exchange Holdings, Inc. (ICE), an affiliate of Bakkt, under a securities purchase agreement dated February 29, 2024. The initial closing of the securities, including 2,762,009 shares of Class A Common Stock and corresponding warrants, is concurrent with a separate offering to institutional investors, with the remaining securities to be issued post-stockholder approvals and customary closing conditions. The Class A Common Stock is listed on...Show More

Bakkt Holdings, a digital asset platform, has announced the offering of up to 11,534,025 shares of its Class A Common Stock, along with Class 1 and Class 2 Warrants to purchase up to 5,767,012 shares each. The offering is detailed in a prospectus supplement filed pursuant to Rule 424(b)(5) under the Registration No. 333-271361. The shares and warrants are being sold to Intercontinental Exchange Holdings, Inc. (ICE), an affiliate of Bakkt, under a securities purchase agreement dated February 29, 2024. The initial closing of the securities, including 2,762,009 shares of Class A Common Stock and corresponding warrants, is concurrent with a separate offering to institutional investors, with the remaining securities to be issued post-stockholder approvals and customary closing conditions. The Class A Common Stock is listed on the NYSE under the symbol 'BKKT', and the last reported sale price was $1.0200 per share as of February 28, 2024. The offering is part of a broader strategy that includes a concurrent registered direct offering to other institutional investors, totaling approximately $40 million. Bakkt anticipates the delivery of the Class A Common Stock and the Warrants against payment at the Initial Closing to be made on or about March 4, 2024.