Bakkt Holdings, Inc.

BKKT: 8-K/A · acquisition merger

Bakkt filed an 8-K/A on August 7, 2026 amending its April 30, 2026 8-K and July 16, 2026 8-K/A solely to replace the audited consolidated financial statements of Distributed Technologies Research Global Ltd, the Cyprus-based fintech software group that Bakkt Holdings acquired after the December 31, 2025 reporting date. DTR's first IFRS consolidated accounts show a EUR 8.44 million loss for 2025, including a EUR 3.21 million impairment from writing off a related-party balance, against total assets of just EUR 4.53 million and year-end cash and bank balances of only EUR 373,857. The statements were audited by Dubai-based R N G Auditors L.L.C, whose consent incorporates them into Bakkt's S-3 and S-8 registration statements. Sole shareholder and director Akshay Sudhir Naheta was owed EUR 748,792 at year end and received EUR 425,123 in managerial remuneration, underscoring heavy related-party entanglement at the acquired business.

SEC 8-K/A•2mo ago

BKKT: 424B3 · prospectus supplement

Bakkt, Inc. filed a prospectus supplement registering the resale of up to 21,010,640 shares of Class A common stock by various selling stockholders, including CEO Akshay Naheta and major shareholder Intercontinental Exchange Holdings, Inc. (ICE). These shares were issued as consideration for the recent acquisition of Distributed Technologies Research Global Ltd. (DTR), the acquisition of Gyzer Inc., and the company’s Up-C collapse transaction. The registered shares represent approximately 44% of the company’s outstanding voting securities, creating a significant potential sell-side overhang. CEO Akshay Naheta, who beneficially owns approximately 22.3% of the company, is among the selling stockholders and may sell shares at his discretion, though the company will not receive any proceeds from these resales. The last reported sale price was $9.92 per share on May 11, 2026. While the company states it will not receive proceeds from the resale of these shares, it may receive up to approximately $14.3 million if certain warrants held by ICE and Daniel Ishag are exercised for cash. The filing highlights risks related to potential dilution and market price depression if selling stockholders dispose of their shares in the open market.

SEC 424B3•4mo ago

BKKT: 8-K · earnings release

Bakkt, Inc. reported a significant decline in revenue for the quarter ended March 31, 2026, with total revenue of $243.6 million, a 77.1% decrease from $1,065.8 million in the same period last year. The majority of this revenue was offset by crypto costs and execution, clearing, and brokerage fees, which totaled $242.0 million. The company also reported a net loss of $11.7 million for Q1 2026, compared to a net income of $7.7 million in Q1 2025. This shift was primarily due to a $32.2 million non-cash gain from the change in fair value of the warrant liability in the prior year, compared to a $4.7 million gain in the current period. Bakkt completed the acquisition of Distributed Technologies Research (DTR) on April 30, 2026, in an all-stock transaction. The company issued 11,316,775 shares of Class A Common Stock to DTR's beneficial holders, with up to 725,592 additional shares issuable upon the exercise of certain warrants. Daniel Ishag, a serial entrepreneur with experience in fintech and decentralized finance, has joined Bakkt as Chief Commercial Officer. He will lead the rebuild of Bakkt's commercial organization, focusing on converting the institutional pipeline across Bakkt Markets and Bakkt Agent.

SEC 8-K•5mo ago

BKKT: 10-Q · periodic report

Bakkt, Inc. reported a significant decline in revenue for the first quarter of 2026, with crypto services revenue decreasing by 77.1% to $243,593,000 from $1,065,756,000 in the same period last year. This decline is primarily attributed to the loss of major clients, Webull and Public, which significantly reduced trading volumes on the platform. The company also raised $67.1 million in net proceeds from the issuance of common stock and pre-funded warrants in a registered direct offering in February 2026 and through an at-the-market offering in January 2026. These funds are intended to support the company's working capital and strategic initiatives, including the acquisition of DTR, which closed on April 30, 2026. Bakkt's cash and cash equivalents as of March 31, 2026, stood at $80,000,000, up from $26,962,000 as of December 31, 2025. The company's total assets were $213,380,000 as of March 31, 2026, compared to $162,788,000 as of December 31, 2025. Bakkt is facing ongoing legal and regulatory challenges, including a lawsuit against Project Labrador Holdco, LLC for approximately $10,000,000 and counterclaims from the same party for $19,000,000. The company is also subject to complex and evolving regulatory requirements, particularly in the stablecoin and digital asset markets.

SEC 10-Q•5mo ago

Bakkt Completes Acquisition of Distributed Technologies Research

globenewswire.com•5mo ago