Bakkt Holdings Inc. filed SEC Form 8-K: Creation of a Direct Financial Obligation
$BKKT
Finance: Consumer Services
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On March 27, 2025, in furtherance of the funding plans of Bakkt Holdings, Inc. (the “Company”), as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”), the Company drew down $5.0 million under that certain revolving credit agreement dated as of August 12, 2024, by and among the Company, Bakkt Opco Holdings, LLC, the subsidiaries of the Company, and Intercontinental Exchange Holdings, Inc. (“ICE” and, such facility, the “ICE Credit Facility”).
Additional information regarding the ICE Credit Facility is available in the section titled “Item 7. Management’s Discussion And Analysis Of Financial Condition And Results of Operations—Liquidity and Capital Resources” in the 2024 Form 10-K, which is incorporated herein by reference.
ICE holds greater than ten percent (10%) of the Company’s capital stock. In addition, an affiliate of ICE employs David Clifton, who is currently serving on the Company’s board of directors. The Company also has certain commercial agreements with certain affiliates of ICE. See “Opco Related Transactions” of the Company’s most recent proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on April 19, 2024, which disclosure is incorporated herein by reference, for more information.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
BAKKT HOLDINGS, INC.
By:/s/ Marc D’Annunzio
Name: Marc D’Annunzio
Title: General Counsel and Secretary
Dated: March 31, 2025