Bakkt | Jotup

Bakkt Announces Reverse Stock Split

Retrieved on:

Tuesday, April 23, 2024

Blockchain, Cryptocurrency, Finance, Asset Management, Banking, Professional Services, Technology, Digital Cash Management, Digital Assets, Common, Parity, New York Stock Exchange, Reverse stock split, Bakkt, Common stock, CUSIP, Security (finance)

Bakkt Holdings, Inc. (NYSE: BKKT) today announced that, following approval by the Company's stockholders and its Board of Directors, the Company will effect a reverse stock split (the “Reverse Stock Split”) of Bakkt’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”), and Class V common stock, par value $0.0001 per share (“Class V Common Stock” and collectively with the Class A Common Stock, the “Common Stock”), at a ratio of 1-for-25 (the “Reverse Stock Split Ratio”), effective as of the close of the trading day on The New York Stock Exchange (the “NYSE”) on April 26, 2024 (the “Effective Time”).

Key Points:

Bakkt Holdings, Inc. (NYSE: BKKT) today announced that, following approval by the Company's stockholders and its Board of Directors, the Company will effect a reverse stock split (the “Reverse Stock Split”) of Bakkt’s Class A common stock, par value $0.0001 per share (“Class A Common Stock”), and Class V common stock, par value $0.0001 per share (“Class V Common Stock” and collectively with the Class A Common Stock, the “Common Stock”), at a ratio of 1-for-25 (the “Reverse Stock Split Ratio”), effective as of the close of the trading day on The New York Stock Exchange (the “NYSE”) on April 26, 2024 (the “Effective Time”).
Following the Reverse Stock Split, the Company’s Class A Common Stock will have a new CUSIP number (05759B 305).
In connection with the Reverse Stock Split, the Company will effect a corresponding and proportional adjustment to its authorized shares of Common Stock, such that the 1,000,000,000 authorized shares of Common Stock, consisting of 750,000,000 shares of Class A Common Stock and 250,000,000 shares of Class V Common Stock will be reduced proportionately pursuant to 40,000,000 authorized shares of Common Stock, consisting of 30,000,000 shares of Class A Common Stock and 10,000,000 shares of Class V Common Stock.
Stockholders who would otherwise hold fractional shares because the number of shares of Class A Common Stock they hold before the Reverse Stock Split is not evenly divisible by the Reverse Stock Split Ratio will be entitled to receive cash (without interest, and subject to any required tax withholding applicable to a holder) in lieu of such fractional shares.

Bakkt Announces $40 Million Registered Direct Offering with Institutional Investors and $10 Million Concurrent Registered Direct Offering

Retrieved on:

Thursday, February 29, 2024

Finance, Data Analytics, Cryptocurrency, Professional Services, Asset Management, Attention, 4th floor, Prospectus, Bakkt, Telephone, Intercontinental Exchange, ICE, Sale, Exercise, Equity capital markets, Form, Keefe, Bruyette & Woods, Security (finance)

The purchase price of each share of Class A common stock and accompanying warrant is $0.8670 (or $0.8669 per pre-funded warrant and accompanying warrant).

Key Points:

The purchase price of each share of Class A common stock and accompanying warrant is $0.8670 (or $0.8669 per pre-funded warrant and accompanying warrant).
The Third-Party Offering is expected to close on March 4, 2024, subject to customary closing conditions.
Each investor will receive 50% of its non-prefunded warrants in Class 1 warrants and the other 50% in Class 2 warrants.
Bakkt intends to use the net proceeds from the offerings primarily for working capital and other general corporate purposes.

Bakkt Announces Preliminary 2023 Financial Results; Preliminary Estimates Within Previously Provided Guidance

Retrieved on:

Thursday, February 29, 2024

Technology, Other Professional Services, NFT, Business, Blockchain, Finance, Banking, Personal Finance, Professional Services, Digital Cash Management, Digital Assets, Software, Cryptocurrency, Data Management, Security, Sale, Bank statement, Annual report, Bakkt

Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) announced certain preliminary financial results for the fourth quarter and full year ended December 31, 2023.

Key Points:

Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) announced certain preliminary financial results for the fourth quarter and full year ended December 31, 2023.
Total revenues for the fourth quarter of 2023 are estimated to be in a range of $213 million to $215 million.
Net loyalty revenues for the fourth quarter of 2023 are estimated to be in a range of $13 million to $15 million.
Bakkt expects to report its fourth quarter 2023 results during a conference call in March, at which point it will discuss its 2023 financial results in more detail.

Bakkt Shelf Registration Statement Declared Effective by the SEC

Retrieved on:

Wednesday, February 14, 2024

Professional Services, Blockchain, Technology, Cryptocurrency, Finance, Fintech, Digital Cash Management, Digital Assets, Bakkt, Security (finance), Prospectus, Sale, Form S-3, Form

Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) announced that its “universal shelf” registration statement on Form S-3 was declared effective by the Securities and Exchange Commission (the "SEC") on February 14, 2024.

Key Points:

Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) announced that its “universal shelf” registration statement on Form S-3 was declared effective by the Securities and Exchange Commission (the "SEC") on February 14, 2024.
This registration statement allows Bakkt, so long as it is effective, to raise up to an aggregate of $150 million of capital in one or more offerings over the subsequent three years.
If Bakkt decides to raise capital in a future offering using such registration statement, Bakkt will describe the specific details of that future offering in a prospectus supplement that is filed with the SEC.
Bakkt believes the flexibility of a shelf registration on Form S-3 will provide the Company with significant benefits when raising capital in the future.

Unchained Partners with Bakkt to Expand its Collaborative Custody Network for Bitcoin

Retrieved on:

Wednesday, November 15, 2023

Unchained, the leading financial services provider for bitcoin holders, today announced that Bakkt has agreed to join its network of collaborative custody partners.

Key Points:

Unchained, the leading financial services provider for bitcoin holders, today announced that Bakkt has agreed to join its network of collaborative custody partners.
With the addition of Bakkt, Unchained’s collaborative custody network is the largest available for institutional investors, corporate treasuries, governments, and retail products.
For institutions and businesses, Unchained’s collaborative custody network introduces an entirely new model for securing their bitcoin treasury.
Our collaborative custody network is therefore a critical part of the industry’s infrastructure, and we’re glad to have Bakkt be a part of it.”
The addition of Bakkt to Unchained’s collaborative custody network further expands the options clients have when building a vault with Unchained’s multi-signature custody offering.

Bakkt Announces Relaunch of Bakkt® Custody with Additional Functionality and Expanded Asset Support

Retrieved on:

Wednesday, November 15, 2023

The redesigned Bakkt® Custody offers segregated on-chain wallet addresses, gives clients the ability to configure security processes in the application and provides access to more advanced reporting features.

Key Points:

The redesigned Bakkt® Custody offers segregated on-chain wallet addresses, gives clients the ability to configure security processes in the application and provides access to more advanced reporting features.
“The events of the past year have revealed why qualified crypto custody is so necessary,” said Gavin Michael, President and CEO of Bakkt.
“Bakkt takes pride in being a provider that never co-mingles funds and always puts our client’s security first.
These additions to Bakkt® Custody bring it to parity with what are offered through Bakkt® Trading.

Bakkt Reports Third Quarter 2023 Results

Retrieved on:

Tuesday, November 14, 2023

Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) announced its financial and operational results for the quarter ended September 30, 2023.

Key Points:

Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) announced its financial and operational results for the quarter ended September 30, 2023.
“This quarter we clearly demonstrated our ability to execute and strengthen our company despite highly challenging crypto market conditions,” said Gavin Michael, President and CEO of Bakkt.
Our relentless focus on delivering for our clients enabled us to onboard and activate most of the new clients that we signed last quarter.
Third quarter 2023 results include Apex Crypto, which we acquired on April 1, 2023.

Bakkt Announces Expansion of International Footprint and Custody Client Base

Retrieved on:

Thursday, November 9, 2023

Technology, Payments, Finance, Fintech, Professional Services, Digital Cash Management, Digital Assets, Blockchain, Data Management, Cryptocurrency, Other Professional Services, NYSE, Hong Kong, Bakkt

Bakkt Holdings, Inc. (NYSE: BKKT) announced today its planned expansion of crypto capabilities into numerous international markets with both existing and newly-signed clients by year end.

Key Points:

Bakkt Holdings, Inc. (NYSE: BKKT) announced today its planned expansion of crypto capabilities into numerous international markets with both existing and newly-signed clients by year end.
Europe: Bakkt and Hapi also expect to launch in Spain by the end of 2023.
In addition, Bakkt will provide crypto trading and custody services in the UK and EU to crypto app 3.0verse, planning to launch by year end.
In addition to international expansion, Bakkt continues to expand with institutionally-backed clients domestically.

Bakkt Schedules Conference Call to Discuss Third Quarter 2023 Results

Retrieved on:

Monday, October 30, 2023

Professional Services, Payments, Data Management, Blockchain, Technology, Cryptocurrency, Digital Cash Management, Digital Assets, NYSE, Bakkt

Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it will release its third quarter 2023 earnings on Tuesday, November 14, 2023, before market open.

Key Points:

Bakkt Holdings, Inc. (NYSE: BKKT) announced today that it will release its third quarter 2023 earnings on Tuesday, November 14, 2023, before market open.
ET on the same day to review the results and answer questions.
In addition to the dial-in options, Bakkt stockholders can participate by going to https://app.saytechnologies.com/bakkt-2023-q3 to submit questions prior to the earnings call.
Management will address a selection of the questions relating to Bakkt’s business and financial results on the earnings call.

Sterling Trading Tech Accelerates Its Global OMS Growth, Industry Veteran Mike Baradas Leads Effort

Retrieved on:

Thursday, September 7, 2023

Professional Services, Data Management, Technology, Finance, Software, Fintech, StoneX Group Inc., Antonine Barada, Bakkt, STT, Bloomberg, Société Générale, Risk, OMS, Cryptocurrency, Fiserv

Sterling Trading Tech (STT), a leading provider of trading technology including a proprietary order management system, a risk and margin system, and trading platforms for the capital markets worldwide, announced today the appointment of industry veteran Michael Baradas as OMS Product Manager.

Key Points:

Sterling Trading Tech (STT), a leading provider of trading technology including a proprietary order management system, a risk and margin system, and trading platforms for the capital markets worldwide, announced today the appointment of industry veteran Michael Baradas as OMS Product Manager.
Coming off a successful extension of the OMS offering to support complex Options, STT is expanding beyond North America, with an international focus on banks and brokerages trading the U.S. markets.
Baradas joins Sterling to lead the continued advanced development of the OMS offering, which is driven by market anticipation and client demand for more sophisticated functionality both in the US and abroad.
Prior to joining STT, Baradas held a variety of senior Product Manager roles at Bakkt, StoneX, Fiserv, and Bloomberg.