secwatch.observer — SEC 8-K summary
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Issuer:     Bakkt, Inc. (BKKT)
CIK:        0001820302
Form:       8-K
Filed at:   2025-03-17T23:59:59+00:00
Accession:  0001628280-25-013121
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Bakkt Holdings loses Bank of America (16-17% loyalty rev) and Webull (74% crypto rev) contracts
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- Bank of America not renewing; agreement expires April 22, 2025; BoA represented ~16% (2023) and 17% (9M2024) of loyalty revenue.
- Webull not renewing; agreement expires June 14, 2025; Webull represented ~74% of crypto services revenue in both periods.
- Bakkt may be required to maintain services for up to 12-month transition period for BoA contract.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820302/000162828025013121/0001628280-25-013121-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820302/000162828025013121/bakkt-20250317.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-013121

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer