Bakkt, Inc. (BKKT): M&A transaction — Bakkt completes acquisition of Apex Crypto LLC for ~$67.2M cash plus up to $145M in shares

Bakkt, Inc.

Completed acquisition of Apex Crypto LLC; paid ~$67.2M cash at closing, including base $55.0M and estimated cash held.
Seller eligible for up to $45M in Bakkt shares based on Q4 2022 profitability targets, and up to $100M for targets through 2025.
Entered Registration Rights Agreement with Seller for resale of shares issued as contingent consideration.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Bakkt, Inc. completed an acquisition involving Apex Fintech Solutions Inc. for estimated closing consideration of approximately $67.2 million in cash (closed 2023-04-01).

Action: acquisition
Counterparty: Apex Fintech Solutions Inc.
Consideration: estimated closing consideration of approximately $67.2 million in cash
Closing: 2023-04-01

Exact text from the filing

as of November 2, 2022, by and among the Bakkt Parties and the Seller Parties. At the Closing, Bakkt Marketplace paid Seller estimated closing consideration of approximately $67.2 million in cash, which includes the base purchase price of $55.0 million, the estimated amount of cash held by the Target at closing and certain other adjustments. The cash consideration

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Bakkt, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-089016

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