---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-276398"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2022-11-03T23:59:59+00:00"
generated_at: "2026-06-22T09:46:54.744574+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Bakkt to acquire Apex Crypto for up to $200M; $55M cash upfront; expected close H1 2023

## Summary
- Maximum purchase price of $200M: $55M cash at closing plus stock earnouts up to $145M based on 2022-2025 performance.
- Stock earnout includes up to $45M for Q4 2022, up to $50M each for 2023 and 2024, and up to $12M for NFT business.
- Acquisition expected to close in first half of 2023, subject to regulatory approvals from NY DFS and state regulators.
- Bakkt and Apex Fintech Solutions will enter a 4-year commercial agreement making Bakkt preferred crypto provider for Apex's 220+ clients.
- Apex Crypto supports 30+ tokens for fintechs, trading apps, and neo-banks; deal expected to expand Bakkt's client verticals and accelerate crypto product development.

## SEC filing metadata
- accession: 0001193125-22-276398
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2022-11-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820302/000119312522276398/0001193125-22-276398-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000119312522276398/d408337d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-276398
- JSON: https://secwatch.observer/filing/0001193125-22-276398.json
- Plain text: https://secwatch.observer/filing/0001193125-22-276398.txt

## Key facts
- Material Agreements
  Bakkt, Inc. entered into Membership Interest Purchase Agreement with Apex Fintech Solutions Inc. valued at $55.0 million in cash (effective 2022-11-02).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Apex Fintech Solutions Inc.
  - Value: $55.0 million in cash
  - Effective: 2022-11-02
  source text: On November 2, 2022, Bakkt Holdings, Inc., a Delaware corporation (“Bakkt” or the “Company”), entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) by and among Bakkt Marketplace, LLC, a Virginia limited liability company and indirect wholly owned subsidiary (“Bakkt Marketplace” and together with Bakkt, the “Bakkt Parties”), Apex Fintech Solutions Inc., a Delaware corporation (“Seller”), and Apex Crypto LLC, a Delaware limited liability company (“Target” and together with Seller, the “Seller Parties”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000119312522276398/0001193125-22-276398-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.