Summary by Futu AI
Intercontinental Exchange, Inc. (ICE), a significant shareholder in Bakkt Holdings, Inc., filed an amendment to its Schedule 13D with the U.S. Securities and Exchange Commission (SEC) on April 25, 2024, indicating a change in its ownership stake. The filing, known as Amendment No. 4, reports that ICE now beneficially owns 7,453,112 shares of Bakkt Holdings, representing 55.6% of the company's common stock. This ownership percentage is subject to a voting agreement that limits ICE's voting power to 30% as long as it and its affiliates own 50% or more of the total voting power of Bakkt Holdings. The amendment reflects the 1-for-25 reverse stock split executed by Bakkt Holdings on April 26, 2024. Additionally, the amendment details the acquisition of Class A Common Stock and warrants by...Show More