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Crypto firm Bakkt plunges after $75 million equity raise

ReutersJul 29, 2025 10:04 AM

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

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