secwatch.observer — SEC 8-K summary
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Issuer:     Bakkt, Inc. (BKKT)
CIK:        0001820302
Form:       8-K
Filed at:   2024-03-04T23:59:59+00:00
Accession:  0001820302-24-000041
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820302/000182030224000041/0001820302-24-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820302/000182030224000041/bakkt-20240229.htm
  HTML page:      https://secwatch.observer/filing/0001820302-24-000041

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