Bakkt Announces 1-for-25 Reverse Stock Split
Bakkt has announced a 1-for-25 reverse stock split designed to increase the share price to comply with NYSE listing requirements. The split will begin trading on April 29, 2024 and will apply to Class A common stock shares and Class V common stock. Following the Reverse Split, the Company will continue to comply with the Exchange's requirements and retain the listing of the stock and public subscription rights certificates. The advance notice affects the number of stock options authorized and the employee incentive plan. The Reverse Split will be executed by Equiniti Trust Company, LLC and no additional action is required for electronically book-entry shareholders. Detailed information on the Reverse Split is available on the SEC's website and the Bakkt Investor Relations website.
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