Bakkt redeems remaining $7.5M convertible debenture with 5% premium on Sept 15

Bakkt, Inc.

Redeemed outstanding $7,500,000 principal of 0.00% convertible debenture due June 2026 for $7,875,000 (5% premium).
Original $25M debenture issued June 17, 2025; $17.5M had previously been converted into Class A common stock.
Reduction of debt reduces potential dilution from future conversions but uses cash reserves.

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