Bakkt Holdings, Inc. (NYSE: BKKT) has priced its previously announced underwritten public offering, which is expected to generate gross proceeds of approximately $75 million. The offering includes 6,753,627 shares of Class A common stock and pre-funded warrants to purchase up to 746,373 shares of Class A common stock. Each share was priced at $10.00, while each pre-funded warrant was priced at $9.9999, representing the per-share public offering price less a $0.0001 exercise price.

The offering is anticipated to close on or around July 30, 2025, pending customary closing conditions. Bakkt intends to allocate the net proceeds to purchase Bitcoin and other digital assets in line with its investment policy, as well as for working capital and general corporate purposes. The company has granted the underwriters a 30-day option to acquire up to an additional 1,125,000 shares of Class A common stock or pre-funded warrants at the public offering price, less underwriting discounts and commissions.

Clear Street LLC and Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, are serving as joint book-running managers for the offering. The offering is being conducted pursuant to a shelf registration statement on Form S-3 (File No. 333-288361), which was declared effective by the Securities and Exchange Commission (SEC) on July 3, 2025.

Copies of the final prospectus supplement, along with the accompanying base prospectus, will be available on the SEC’s website. Interested parties may also obtain these documents from Clear Street LLC and Cohen & Company Capital Markets.

Founded in 2018 and headquartered in Alpharetta, GA, Bakkt develops solutions that enable clients to engage with the crypto economy. The company provides institutional-grade trading and onramp capabilities, focusing on technology designed for sustainable involvement in the cryptocurrency sector.