Bakkt Holdings Receives SEC Approval for Form S-3 Registration Statement

According to PANews, Bakkt Holdings, Inc. has announced that its Form S-3 registration statement submitted to the U.S. Securities and Exchange Commission (SEC) has been approved and became effective on February 14, 2024. Bakkt stated that as long as the registration statement remains valid, the company will be able to raise a total of $150 million in funds through one or more securities issuances over the next three years. The specific details of future issuances will be described in subsequent prospectus supplement documents. Previously, Bakkt had submitted documents to the SEC last week stating that it might not be able to continue operations, as the company's cash and restricted cash would be difficult to support operations for the next 12 months.