(Businesswire) Digital asset marketplace Bakkt Holdings, LLC has finalized its combination with a blank-cheque, VPC Impact Acquisition Holdings.
The combined entity will operate as Bakkt Holdings, Inc. The company’s shares and warrants will trade under ticker “BKKT” and “BKKT WS,” respectively, on the New York Stock Exchange starting from October 18, 2021.
Bakkt CEO says the combination enables the company to get the necessary capital to innovate and grow in the digital economy.
VPC’s CEO John Martin says Bakkt has a compelling value proposition, with the ability to create sustainable shareholder value from its best-in-class management team.
The combination unlocks about $448 million in gross proceeds to Bakkt. The company is expected to use the proceeds to expand its platform capabilities and marketing and advance its current and future partnerships.
