Bakkt, Inc. — fact timeline

Bakkt, Inc. reported the quarter ended March 31, 2026 results: revenue $243.6 million, net income $11.7 million.

“Total revenue was $243.6 million, compared with $1,065.8 million in Q1 2025.”

Bakkt, Inc. completed an acquisition involving Distributed Technologies Research Global Ltd. for 11,316,775 shares of its Class A Common Stock (closed 2026-04-30).

“Purchase Agreement) for purposes of consummating the acquisition of DTR at Closing. At the closing of the acquisition of DTR (the “Closing”), the Company issued an aggregate of 11,316,775 shares (such shares, the “Consideration Shares”) of its Class A Common Stock, par value $0.0001 per share (the “Class A Common Stock”), comprised of (A) 31.5% of (i) the aggregate”

Bakkt, Inc. reported financial results for the full year ended December 31, 2025.

“On March 16, 2026 Bakkt, Inc. (the “Company”) issued a Shareholder Letter (the “Letter”) announcing its financial results for the the full year ended December 31, 2025.”

Bakkt, Inc. entered into Purchase Agreement with a single investor valued at approximately $48.125 million (effective 2026-02-27).

“On February 27, 2026, Bakkt, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with a single investor (the “Investor”), pursuant to which the Company agreed to sell and issue to the Investor an aggregate of 3,024,799 shares (the “Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”) and pre-funded warrants (the “Pre-Funded Warrants”) to purchase an aggregate of 2,475,201 shares of Common Stock (the “Offering”).”

Bakkt, Inc. entered into Sales Agreement with The Benchmark Company, LLC, Virtu Americas LLC, Clear Street LLC, Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, Macquarie Capital (USA) Inc., Rosenblatt Securities Inc. and Roth Capital Partners, LLC valued at up to an aggregate sales price of $300,000,000 (effective 2026-01-16).

“On January 16, 2026, Bakkt Holdings, Inc. (the “Company”) entered into a Sales Agreement (the “Sales Agreement”) with each of The Benchmark Company, LLC, Virtu Americas LLC, Clear Street LLC, Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, Macquarie Capital (USA) Inc., Rosenblatt Securities Inc. and Roth Capital Partners, LLC (each, a “Sales Agent” and together, the “Sales Agents”), pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $300,000,000 of its Class A common stock, $0.0001 par value per share (“Common Stock” and such amount of shares of Common Stock, the “Shares”), through the Sales Agents.”

Bakkt, Inc.: Amended and restated By-Laws to reflect the name change to 'Bakkt, Inc.', effective January 22, 2026 (effective 2026-01-22).

“the Board also approved an amendment and restatement of the By-Laws of the Company (the “Amended and Restated By-Laws”). The Amended and Restated By-Laws will be effective as of 12:01 a.m. Eastern Time on January 22, 2026. The changes in the By-Laws solely reflect the Name Change.”

Bakkt, Inc.: Filed Certificate of Amendment to change company name to 'Bakkt, Inc.', effective January 22, 2026 (effective 2026-01-22).

“the Board approved a Certificate of Amendment of the Amended and Restated Certificate of Incorporation of the Company (the “Certificate of Amendment”) to change the name of the Company to “Bakkt, Inc.” (the “Name Change”). The Name Change and the Certificate of Amendment will be effective as of 12:01 a.m. Eastern Time on January 22, 2026.”

Bakkt, Inc.: Filed Certificate of Elimination to remove all matters related to Series A Non-Voting Convertible Preferred Stock from the Amended and Restated Certificate of Incorporation (effective 2026-01-09).

“the Company filed a Certificate of Elimination (the “Certificate of Elimination”) with the Secretary of State of the State of Delaware on January 9, 2026. Effective upon filing, the Certificate of Elimination eliminated from the Company’s Amended and Restated Certificate of Incorporation all matters set forth in the Certificate of Designations with respect to the Series A Non-Voting Convertible Preferred Stock.”

Bakkt, Inc. entered into Share Purchase Agreement with Distributed Technologies Research Global Ltd. and Akshay Naheta (effective 2026-01-11).

“On January 11, 2026, Bakkt Opco Holdings, LLC (“Opco”), a Delaware limited liability company and wholly owned subsidiary of Bakkt Holdings, Inc. (the “Company”), entered into a Share Purchase Agreement (the “Purchase Agreement”) by and among Opco, the Company, Distributed Technologies Research Global Ltd., a private limited company incorporated in Cyprus (“DTR”), and Akshay Naheta (Mr. Naheta or the “Seller”).”

Bakkt, Inc. issued 465,890 shares of New Bakkt Preferred Stock of preferred stock to ICE for at a price per share of New Bakkt Class A Common Stock of $39.34.

“to such conversion under the HSR Act, or (ii) a direct transfer to an unaffiliated party of the holder thereof), at a price per share of New Bakkt Class A Common Stock of $39.34, representing the “Minimum Price” as defined in NYSE Rule 312.04(h), which was offset against the amount of cash to which Mr. Naheta and ICE were otherwise entitled under the”

Bakkt, Inc. issued 69,733 shares New Bakkt Class A Common Stock of common stock to Mr. Naheta for at a price per share of New Bakkt Class A Common Stock of $39.34.

“to such conversion under the HSR Act, or (ii) a direct transfer to an unaffiliated party of the holder thereof), at a price per share of New Bakkt Class A Common Stock of $39.34, representing the “Minimum Price” as defined in NYSE Rule 312.04(h), which was offset against the amount of cash to which Mr. Naheta and ICE were otherwise entitled under the”

Bakkt, Inc.: Adopted Amended and Restated Bylaws for New Bakkt, effective upon consummation of the Holding Company Reorganization, substantially the same as Old Bakkt's bylaws with technical changes permitted by DGCL Section 251(g) (effective 2025-11-03).

“Upon consummation of the Holding Company Reorganization, the Amended and Restated Certificate of Incorporation of New Bakkt (the “ New Bakkt A&R Certificate of Incorporation ”) and the Amended and Restated Bylaws of New Bakkt (the “ New Bakkt A&R Bylaws ”) were the same as the Certificate of Incorporation and the Bylaws of Old Bakkt in effect immediately prior to consummation of the Holding Company Reorganization, respectively, other than certain technical changes permitted by Section 251(g) of the DGCL.”

Bakkt, Inc.: Adopted Amended and Restated Certificate of Incorporation for New Bakkt, effective upon consummation of the Holding Company Reorganization, substantially the same as Old Bakkt's certificate with technical changes permitted by DGCL Section 251(g) (effective 2025-11-03).

“Upon consummation of the Holding Company Reorganization, the Amended and Restated Certificate of Incorporation of New Bakkt (the “ New Bakkt A&R Certificate of Incorporation ”) and the Amended and Restated Bylaws of New Bakkt (the “ New Bakkt A&R Bylaws ”) were the same as the Certificate of Incorporation and the Bylaws of Old Bakkt in effect immediately prior to consummation of the Holding Company Reorganization, respectively, other than certain technical changes permitted by Section 251(g) of the DGCL.”

Bakkt, Inc. issued approximately 655,500 shares would be issued to ICE and 69,750 to Mr. Naheta of common stock to ICE and Akshay Naheta for cash equal to the respective TRA amount, net-settled; price per share representing the Minimum Price as defined in NYSE Rule 312.04(h).

“NewCo will issue NewCo Class A Common Stock to ICE and Mr. Naheta, at a price per share representing the “Minimum Price” as defined in NYSE Rule 312.04(h).”

Bakkt, Inc. completed a disposition involving Project Labrador Holdco, LLC (closed 2025-10-01).

“On October 1, 2025, Opco completed the previously announced Transaction in accordance with the Purchase Agreement, as amended.”

Bakkt, Inc.: Amendment to Certificate of Incorporation to increase authorized shares of Class A Common Stock from 60,000,000 to 560,000,000 and total Common Stock from 70,000,000 to 570,000,000 (effective 2025-08-07).

“On August 7, 2025, the Company filed an amendment to the Company’s Certificate of Incorporation (the “Amendment”) to increase the number of authorized shares of Class A Common Stock from 60,000,000 shares to 560,000,000 shares and, accordingly, to increase the number of authorized shares of the Company’s Common Stock from 70,000,000 to 570,000,000.”

Bakkt, Inc. incurred convertible notes of $25 million convertible debenture with YA II PN, LTD. at annual rate equal to 0%, which will increase to an annual rate of 18% upon the o maturing first anniversary of the closing date.

“Securities Purchase Agreement On June 17, 2025, Bakkt Holdings, Inc., a Delaware corporation (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with YA II PN, LTD., a Cayman Islands exempt limited company (the “Investor”). Pursuant to the terms of the Purchase Agreement, the Investor will purchase a $25 million convertible debenture (the “Convertible Debenture”) from the Company for a price of $23.75 million (the “Purchase Amount”) in a private placement (the “Private Placement”).”

Bakkt, Inc.: Amendment to increase authorized shares of Class A Common Stock from 30,000,000 to 60,000,000 and total Common Stock from 40,000,000 to 70,000,000 (effective 2025-06-17).

“2) an amendment to the Company’s Certificate of Incorporation (“Amendment No. 2”) to increase the number of authorized shares of Class A Common Stock from 30,000,000 shares to 60,000,000 shares and, accordingly, to increase the number of authorized shares of the Company’s Common Stock from 40,000,000 to 70,000,000”

Bakkt, Inc.: Amendment to provide for officer exculpation as permitted by Delaware law (effective 2025-06-17).

“1) an amendment to the Company’s Certificate of Incorporation (“Amendment No. 1”) to provide for officer exculpation as permitted by Delaware law”

Bakkt, Inc. engaged Grant Thornton LLP as its auditor.

“The Audit Committee, on and effective as of June 9, 2025, appointed Grant Thornton LLP ("Grant Thornton") as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2025.”

Bakkt, Inc. dismissed KPMG LLP as its auditor.

“Effective as of June 9, 2025, the Audit Committee dismissed KPMG LLP ("KPMG") as its independent registered public accounting firm.”

Andrew Main was appointed as Co-Chief Executive Officer at Bakkt, Inc..

“the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.”

Akshay Naheta was appointed as Class I Director at Bakkt, Inc..

“Mr. Naheta also was appointed as a Class I Director of the Board, to serve until the 2025 annual meeting of stockholders.”

Akshay Naheta was appointed as Co-Chief Executive Officer at Bakkt, Inc..

“the Board appointed each of Akshay Naheta and Andrew Main, the current President and Chief Executive Officer of the Company, to serve as the Company’s Co-Chief Executive Officers (each a “Co-CEO” and together, the “Co-CEOs”), effective March 21, 2025.”

Colleen Brown was appointed as Class III Director at Bakkt, Inc..

“On July 19, 2024, the Board, upon the recommendation of its Nominating and Corporate Governance Committee, appointed Colleen Brown to serve as a Class III director, filling the vacancy created by Mr. Lumb’s resignation.”

Richard Lumb resigned as Director at Bakkt, Inc..

“On July 16, 2024, Richard Lumb resigned, effective immediately, as a director of Bakkt Holdings, Inc. (the “Company”) and as a member of the Audit and Risk Committee (the “Audit Committee”) of the Company’s Board of Directors (the “Board”).”

Joe Henderson was appointed as Vice President, Chief Accounting Officer and Principal Accounting Officer at Bakkt, Inc..

“Bakkt Holdings, Inc. (the “Company”) appointed Joe Henderson, 53, as Vice President, Chief Accounting Officer and Principal Accounting Officer of the Company, effective July 8, 2024.”

Bakkt, Inc. reported the quarter ended March 31, 2024 results: revenue $854.6 million, net income $21.3 million.

“Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Bakkt Reports First Quarter 2024 Results - $854.6 million total revenues including gross crypto revenues and net loyalty revenues - Strong client crypto trading activity with notional traded volume up 324% quarter-over-quarter - $48.8”

Karen Alexander was appointed as Principal Accounting Officer at Bakkt, Inc..

“Upon the effectiveness of Mr. Goodroe’s resignation, Karen Alexander, the Company’s Chief Financial Officer and principal financial officer, will assume the role of the Company’s principal accounting officer.”

Charles Goodroe resigned as Chief Accounting Officer at Bakkt, Inc..

“On April 29, 2024, Charles Goodroe tendered his resignation from his position as Chief Accounting Officer of Bakkt Holdings, Inc. (the “Company”), to be effective as of May 22, 2024.”

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).

“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”

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

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

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

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

Bakkt, Inc. reported financial results for the quarter and year ended December 31, 2023.

“On March 25, 2024 , Bakkt Holdings, Inc. (the “Company”) issued a press release regarding the Company’s results for the quarter and year ended December 31, 2023.”

Gavin Michael departed as President and Chief Executive Officer at Bakkt, Inc..

“Mr. Main will succeed Gavin Michael, the Company’s current President and Chief Executive Officer, who will remain with the Company as an advisor for a period of one year.”

Andrew Main was appointed as President and Chief Executive Officer at Bakkt, Inc..

“On March 18, 2024, Bakkt Holdings, Inc. (the “Company”) announced that the Company’s Board of Directors (the “Board”) appointed Andrew Main to serve as the Company’s President and Chief Executive Officer, effective as of March 26, 2024.”

Bakkt, Inc. received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).

“March 13, 2024, Bakkt Holdings, Inc. (“ Bakkt ” or the “ Company ”) was notified by NYSE Regulation Inc. (the “ NYSE ”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual (the “ Listing Rule ”) because the average closing stock price of a share of the Company’s Class A common stock was less than $1.00 per share over a consecutive 30 trading-day period. Pursuant to the Listing Rule, the Company has six months following the NYSE notification to regain compliance with the Listing Rule, during which time the Company’s Class A common stock will continue to be listed”

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).

“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.”

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).

“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”)”

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).

“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”).”

Bakkt, Inc. reported fiscal year 2023 results: revenue $778 million to $780 million. Guidance reaffirmed.

“Total revenues for fiscal year 2023 are estimated to be in a range of $778 million to $780 million, which is expected to be in line with prior guidance of between $750 million and $1,268 million.”

Bakkt, Inc. reported the fourth quarter of 2023 results: revenue $213 million to $215 million.

“Total revenues for the fourth quarter of 2023 are estimated to be in a range of $213 million to $215 million.”

Bakkt, Inc. reported the quarter ended September 30, 2023 results: revenue $204.8 million, net income $(51.7) million (net loss).

“Quarter 2023 Results Gross crypto services revenues of $191.8 million and associated crypto costs and execution, clearing and brokerage fees of $190.1 million Total revenues of $204.8 million include gross crypto revenues and net loyalty revenues Total operating expenses of $257.6 million includes crypto costs and execution, clearing and brokerage fees and goodwill”

Bakkt, Inc. reported financial results for quarter ended June 30, 2023.

“On August 10, 2023 , Bakkt Holdings, Inc. (the “Company”) issued a press release regarding the Company’s results for the quarter ended June 30, 2023.”

Bakkt, Inc. shareholders approved Approval of amendment to the Company's 2021 Omnibus Incentive Plan to authorize 26,590,466 additional shares at the 2023-06-06 meeting.

“The stockholders approved an amendment to the Company’s 2021 Omnibus Incentive Plan to authorize 26,590,466 additional shares. The voting results were as follows: Votes For Votes Against Abstentions Broker Non-Votes 184,177,525 20,069,821 81,999 16,791,231”

Bakkt, Inc. shareholders approved Ratification of appointment of Ernst & Young LLP as independent registered public accounting firm for fiscal year ending December 31, 2023 at the 2023-06-06 meeting.

“The stockholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023. The voting results were as follows: Votes For Votes Against Abstentions Broker Non-Votes 219,890,212 909,165 321,199 —”

Bakkt, Inc. reported the quarter ended March 31, 2023 results: revenue $13.0 million, net income $(44.9) million.

“Bakkt Reports First Quarter 2023 Results Quarterly net revenues of $13.0 million, increased 4% year-over-year”

Bakkt, Inc. completed an acquisition involving Apex Fintech Solutions Inc. for estimated closing consideration of approximately $67.2 million in cash (closed 2023-04-01).

“as of November 2, 2022, by and among the Bakkt Parties and the Seller Parties. At the Closing, Bakkt Marketplace paid Seller estimated closing consideration of approximately $67.2 million in cash, which includes the base purchase price of $55.0 million, the estimated amount of cash held by the Target at closing and certain other adjustments. The cash consideration”

Bakkt, Inc. reported the quarter and year ended December 31, 2022 results: revenue $15.6 million.

“reference in such filing. --- EX-99.1 (EX-99.1) --- exhibit991pressrelease_4 Exhibit 99.1 Bakkt Reports Fourth Quarter and Full Year 2022 Results Quarterly net revenues of $15.6 million, increased 14% year over year; full year net revenues of $54.6 million, increased 38% year over year Strong customer activity with fourth quarter digital asset conversion volume”

Bakkt, Inc. announced a restructuring with charges of approximately $3.7 - $4.1 million (approximately 16% of the Company’s non-call center, full-time workforce (49 employees)).

“force were notified of the reduction on March 9, 2023 and will exit the Company in the first quarter of 2023. The Company estimates that it will incur expenses of approximately $3.7 - $4.1 million related to the reduction in force, substantially all of which are related to employee severance and benefits costs and will be recognized in the first quarter of”