On February 29, 2024, Bakkt Holdings, Inc. reported the entry into two separate securities purchase agreements, resulting in registered direct offerings. The first agreement, with various institutional investors, led to the issuance and sale of over 34 million shares of Class A Common Stock and various warrants, with the transaction closing on March 4, 2024. The second agreement was with Intercontinental Exchange Holdings, Inc. (ICE), an existing major stockholder of Bakkt Holdings, for the sale of up to approximately 11.5 million shares and accompanying warrants. The initial closing with ICE occurred concurrently with the third-party closing, with further sales contingent on stockholder approval and NYSE regulations. The offerings are expected to net approximately $37.6 million from third-party investors and $9.8 million from ICE, after expenses. Bakkt Holdings intends to use the proceeds for working capital and general corporate purposes. The offerings were made under the company's existing SEC registration, with Keefe, Bruyette & Woods acting as the placement agent for the third-party offering.

On February 29, 2024, Bakkt Holdings, Inc. reported the entry into two separate securities purchase agreements, resulting in registered direct offerings. The first agreement, with various institutional investors, led to the issuance and sale of over 34 million shares of Class A Common Stock and various warrants, with the transaction closing on March 4, 2024. The second agreement was with Intercontinental Exchange Holdings, Inc. (ICE), an existing major stockholder of Bakkt Holdings, for the sale of up to approximately 11.5 million shares and accompanying warrants. The initial closing with ICE occurred concurrently with the third-party closing, with further sales contingent on stockholder approval and NYSE regulations. The offerings are expected to net approximately $37.6 million from third-party investors and $9.8 million from ICE, after expenses. Bakkt Holdings intends to use the proceeds for working capital and general corporate purposes. The offerings were made under the company's existing SEC registration, with Keefe, Bruyette & Woods acting as the placement agent for the third-party offering.