Bakkt completes 1-for-25 reverse stock split and reduces authorized shares to 40M

Bakkt, Inc.

Effective April 29, 2024, every 25 shares of common stock converted into 1 share.
Authorized shares reduced from 1.0B to 40.0M (30M Class A, 10M Class V).
Public warrant exercise price increased to $287.50 per share; each warrant now exercisable for 1/25 of a share.
Class 1 and Class 2 warrant exercise prices adjusted to $25.50 per share.
Outstanding equity awards and shares under 2021 Omnibus Incentive Plan proportionally adjusted.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Bakkt, Inc.: Amendment to certificate of incorporation to effect a 1-for-25 reverse stock split and reduce authorized shares from 1.0 billion to 40.0 million (effective 2024-04-29).

Change: charter amendment
Effective: 2024-04-29

Exact text from the filing

pursuant to an amendment to the Company’s certificate of incorporation (such amendment, the “Charter Amendment”), which was filed with the Secretary of State of the State of Delaware on April 26, 2024, and became effective as of 12:01 a.m. Eastern Time on April 29, 2024 (the “Effective Time”). In addition, and pursuant to the Charter Amendment, at the Effective Time, the number of authorized shares of Common Stock was proportionately reduced from 1.0 billion shares to 40.0 million shares

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Source: SEC EDGAR

accession 0001820302-24-000080

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