Bakkt Holdings Inc. has announced plans to collect $ 1 billion through a mixed supply supply and to use the revenue to finance Bitcoin purchases.
According to the Crypto software company of 26 June submit With the US Securities and Exchange Commission, the offer includes every combination of class A ordinary shares, preference shares, debt proofs, warrants or units.
The form S-3-shift registration enables Bakkt to publish these effects in one or more tranches over time, depending on the market conditions.
Bakkt can assign the proceeds from future stock or debt financing to Bitcoin or other digital assets. Although no purchases have yet been made, Bakkt said that his updated investment policy now allows such acquisitions as part of its broader Treasury strategy.
“We can acquire Bitcoin or other digital assets with the help of surplus cash, yields of future stock or debt financing or other sources of capital, subject to the limitation set out in our investment policy,” Bakkt noted in the submission.
The submission also noted that the timing and scale of a crypto -activa acquisition will depend on business performance, market conditions, capital availability and strategic priorities. The company is investigating various financing options, including convertible banknotes or bonds, to support these plans.
Bakkt, founded in 2018, offers crypto -trade and custody solutions via APIs and embedded platforms and became public in 2021 via a Spac fusion.
The pivot to a Bitcoin Treasury strategy comes baking with a growing trend at companies and public entities that assign reserves to digital assets. The decision can be an attempt to breathe new life into the trust of investors and to strengthen the company’s long-term positioning in the crypto sector.
Bakkt shares rose by 3% to $ 13.33 on Thursday, but the share continues to fall 46% years to date. The company has been under pressure since March, when his shares fell 30% after they revealed that Bank of America and Webull, two of its largest customers, would not extend their commercial agreements.
The newest development also comes after a turbulent year, because Bakkt reported heavy losses and worries about his ability to continue to continue activities without fresh capital.
As previously reported by Crypto.news, the Trump Media & Technology Group was reportedly in “Advanced Talks” to acquire Bakkt Apparently in advanced conversations was to acquire Bakkt. However, no agreement was completed and the status of the negotiations remains unclear.
