{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-242750","form_type":"8-K","ticker":"BKKT","cik":"0001820302","company_name":"Bakkt, Inc.","filed_at":"2025-10-20T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.606323+00:00","generated_at":"2026-05-17T03:16:20.805121+00:00","sec_items":["1.01","3.02","7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Bakkt to simplify capital structure, eliminate Up-C, transition to single-class common stock by Nov 3","bullets":["Company to reorganize into NewCo; each share of Class A common stock exchanged for one share of NewCo common stock.","Pre-IPO investors' Class V common stock replaced with NewCo common stock; all shareholders will hold single class with identical rights.","TRA amendment: ICE and CEO Naheta contribute TRA rights to NewCo in exchange for NewCo Class A common stock, net-settled.","Estimated issuance of ~655,500 shares to ICE and ~69,750 shares to Naheta based on assumed stock price of $38.","Reorganization expected to close on or about November 3, 2025; warrants will be exchanged for equivalent NewCo warrants."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-242750","json":"https://secwatch.observer/filing/0001193125-25-242750.json","markdown":"https://secwatch.observer/filing/0001193125-25-242750.md","text":"https://secwatch.observer/filing/0001193125-25-242750.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1820302/000119312525242750/0001193125-25-242750-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1820302/000119312525242750/d74254d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T03:16:20.805121+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}