Bakkt stockholders approve 1-for-25 reverse split; $7.6M ICE issuance closed

Bakkt, Inc.

Stockholders approved 1-for-25 reverse stock split and the NYSE issuance proposal at April 23 special meeting (203M for, 21M against).
Reverse split effective after NYSE close April 26; adjusted trading begins April 29; authorized shares reduced from 1B to 40M.
On April 25, sold 8.77M shares, Class 1/Class 2 warrants to ICE for ~$7.6M gross proceeds; funds for working capital.
Reverse split aims to regain compliance with NYSE minimum bid price rule (Section 802.01C).
No fractional shares; cash paid in lieu; warrants and equity awards proportionately adjusted.

item 5.07 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bakkt, Inc. shareholders approved NYSE Issuance Proposal at the 2024-04-23 meeting.

Outcome: passed
Meeting: 2024-04-23

Exact text from the filing

The voting results for the NYSE Proposal were as follows: For Against Abstain Broker Non-Votes 208,531,459 15,547,882 363,025 —

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bakkt, Inc. shareholders approved Reverse Stock Split and Related Matters Proposal at the 2024-04-23 meeting.

Proposal: reverse split
Outcome: passed
Meeting: 2024-04-23

Exact text from the filing

The voting results for such proposal were as follows: For Against Abstain Broker Non-Votes 203,297,493 21,007,645 137,228 —

View on SEC.gov

210 shareholder votes filed in the last 30 days. Browse all shareholder votes →

Bakkt, Inc. filing history →

Source: SEC EDGAR

accession 0001820302-24-000076

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.