Bakkt Files $1B Shelf Registration Amid Eyeing Bitcoin Investment

Crypto software company BAKKT HOLDINGS INC. tries to increase up to $ 1 billion through different types of securities that could be used to finance Bitcoin purchases.

Society, a subsidiary of Intercontinental Exchange, which owns the New York Stock Exchange, submitted The S-3 form on Thursday with the US Securities and Exchange Commission, which revealed its intentions to offer ordinary shares and securities.

The company said it could issue up to $ 1 billion from any combination of ordinary shares of A, preferred shares, debt securities, orders or a combination of these assets.

The submission stated that Bakkt At the beginning of this month, it updated its investment policy “allowing us to allocate capital to Bitcoins and other digital assets within our wider cash register and companies”, but still have to make his first purchase.

“We can get bitcoins or other digital assets using excessive cash, future capital or debt financing or other capital resources,” he added.

The so -called Police registration allows BAKKT to quickly approach capital markets if the conditions are favorable, which is particularly important due to their history of losses and concern problems.

Bakkt concerns problems

Bakkt, founded in 2018, admitted in the submission that it had a “limited operational history and the history of operating losses”.

The submission also contained a very specific warning against future operations that “she identified conditions and events that raised considerable doubts about our ability to continue working”.

Related: Bakkt appoints a new joint CEO in the middle of focus on cryptomatic offer

The company confirmed that the timing and size of any purchase of cryptology will depend on the market conditions, capital market susceptibility, business performance and other strategic considerations.

BAKKT shares price is bothering

Bakkt on the NYSE list recorded on Thursday an increase in stock price by 3%to reach $ 13.33, according to to Google Finance. However, the shares dropped by 46%since the beginning of the year.

Bakkt shares Tanked 30% In March, after the company revealed that two of its largest clients, Bank of America and Webull, did not renew their business agreements.

Bakkt bulls on the cryptopos

Firm he commented on x on a recent slate Crypto ipo submissionLike those of Circle, Etoro and Gemini, and claim that “they are only the latest in a number of movements that indicate that real momentum is rebuilt in digital assets.”

“This development brings verification, visibility and maturity to the market,” they added.

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