---
schema_version: "secwatch.filing_event.v1"
accession: "0001820302-24-000041"
form_type: "8-K"
ticker: "BKKT"
cik: "0001820302"
company_name: "Bakkt, Inc."
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T04:52:37.720229+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Bakkt raises ~$47.4M in registered direct offerings with ICE and institutional investors

## Summary
- Sold 34.9M shares and warrants to institutional investors for net proceeds of ~$37.6M.
- ICE purchased 2.8M shares and warrants at closing; remaining $9.8M issuance subject to stockholder approval.
- Warrants have exercise price of $1.02, exercisable after 6 months, expire in 5.5 years.
- Net proceeds to be used for working capital and general corporate purposes.
- Keefe, Bruyette & Woods acted as placement agent for the Third-Party Offering.

## SEC filing metadata
- accession: 0001820302-24-000041
- form_type: 8-K
- ticker: BKKT
- cik: 0001820302
- company_name: Bakkt, Inc.
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000041/0001820302-24-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000041/bakkt-20240229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820302-24-000041
- JSON: https://secwatch.observer/filing/0001820302-24-000041.json
- Plain text: https://secwatch.observer/filing/0001820302-24-000041.txt

## Key facts
- Material Agreements
  Bakkt, Inc. entered into ICE Purchase Agreement with Intercontinental Exchange Holdings, Inc. valued at up to 11,534,024 shares of Class A Common Stock, Class 1 Warrants to purchase up to 5,767,012 shares (effective 2024-02-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Intercontinental Exchange Holdings, Inc.
  - Value: up to 11,534,024 shares of Class A Common Stock, Class 1 Warrants to purchase up to 5,767,012 shares
  - Effective: 2024-02-29
  source text: On February 29, 2024, the Company entered into a securities purchase agreement (the “ICE Purchase Agreement” and, together with the Third-Party Purchase Agreement, the “Purchase Agreements”) with Intercontinental Exchange Holdings, Inc. (“ICE”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000041/0001820302-24-000041-index.htm
- Material Agreements
  Bakkt, Inc. entered into Third-Party Purchase Agreement with certain institutional investors valued at aggregate of 34,917,532 shares of Class A Common Stock, Class 1 Warrants to purchase an aggregate of (effective 2024-02-29).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain institutional investors
  - Value: aggregate of 34,917,532 shares of Class A Common Stock, Class 1 Warrants to purchase an aggregate of
  - Effective: 2024-02-29
  source text: On February 29, 2024, Bakkt Holdings, Inc. (the “Company”) entered into a securities purchase agreement (the “Third-Party Purchase Agreement”) with certain institutional investors (the “Third-Party Purchasers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000041/0001820302-24-000041-index.htm
- Material Agreements
  Bakkt, Inc. entered into Voting Support Agreement with Intercontinental Exchange Holdings, Inc. valued at ICE agreed to vote in favor of proposals seeking to obtain the Voting Support Agreement (effective 2024-02-29).
  - Action: entry
  - Counterparty: Intercontinental Exchange Holdings, Inc.
  - Value: ICE agreed to vote in favor of proposals seeking to obtain the Voting Support Agreement
  - Effective: 2024-02-29
  source text: In connection with the Concurrent Offerings, ICE entered into a voting support agreement with the Company (the "Voting Support Agreement"), pursuant to which ICE agreed, among other things, to vote in favor of proposals seeking to obtain the Voting Support Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820302/000182030224000041/0001820302-24-000041-index.htm

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