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Bakkt announced a share placement to raise $75 million to purchase BTC.
[Bakkt announces a $75 million equity offering to purchase BTC] The New York Stock Exchange listed company Bakkt publicly announced the pricing of its A-class common stock and/or pre-funded warrants through an underwritten public offering. The company will issue 746,373 shares of A-class common stock (at $10 per share) and 6,753,627 shares, raising a total of approximately $75 million. The company plans to utilize these funds to purchase Bitcoin and other digital assets, as well as for working capital and general corporate purposes.