Crypto firm Bakkt plunges after $75 million equity raise

Bakkt

29/07/2025 11:04

** Shares of crypto trading firm Bakkt Holdings BKKT.N slump 35.3% to $11.11 premarket

** BKKT late Monday announced pricing of $75 million stock offering

** Company sold ~6.8 million shares and pre-funded warrants to purchase up to 746,373 shares at $10 apiece

** Offering priced at 41.8% discount to last close

     ** BKKT will use proceeds to purchase bitcoin and other digital asset classes

** Clear Street and Cohen & Company Capital Markets are joint book-running managers of the offering

** As of last close, BKKT shares down 30.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))