Bakkt stock price drops due to $48.1 million equity issuance pricing

LootboxPhobia · 2026-02-27T18:25:59+00:00

Bakkt Holdings Inc. stock price drops 5.8% after announcing direct issuance registration, expecting to raise $48.1 million. The company issued 3.07 million Class A common shares at $8.75 per share and granted preemptive rights to purchase 2.47 million shares, planned for operational funding and strategic initiatives.

LootboxPhobia

2026-02-27 18:25:59

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Investing.com – Bakkt Holdings Inc (NYSE: BKKT) stock fell 5.8% on Friday, after the company announced a registered direct offering priced to raise approximately $48.1 million in total proceeds.

The company issued 3,024,799 Class A common shares to an institutional investor at $8.75 per share, and also issued pre-funded warrants at $8.7499 per warrant, which can purchase up to 2,475,201 shares. The offering is expected to close on or around March 2, 2026, subject to customary closing conditions.

Bakkt stated that the net proceeds from the offering will be used for working capital, general corporate purposes, and strategic initiatives. Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, served as the exclusive placement agent for the offering.

Founded in 2018, the company provides solutions supporting institutional participation in the digital asset economy, including Bitcoin, tokenization, stablecoin payments, and AI-driven financial services.

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