On February 12, 2024, Bakkt Holdings, Inc. received comments from the United States Securities and Exchange Commission (SEC) regarding Amendment No. 1 to its Registration Statement on Form S-3, which was initially filed on February 7, 2024. The SEC's letter to CEO Gavin Michael requested that Bakkt Holdings address concerns related to the company's going concern disclosure in its amended Form 10-Q for the quarter ended September 30, 2023. Specifically, the SEC asked Bakkt Holdings to revise its Prospectus Summary to include a detailed discussion of the conditions that raise substantial doubt about the company's ability to continue as a going concern, an evaluation of the significance of these conditions, and management's plans to mitigate these risks. Additionally, the SEC requested information on...Show More

On February 12, 2024, Bakkt Holdings, Inc. received comments from the United States Securities and Exchange Commission (SEC) regarding Amendment No. 1 to its Registration Statement on Form S-3, which was initially filed on February 7, 2024. The SEC's letter to CEO Gavin Michael requested that Bakkt Holdings address concerns related to the company's going concern disclosure in its amended Form 10-Q for the quarter ended September 30, 2023. Specifically, the SEC asked Bakkt Holdings to revise its Prospectus Summary to include a detailed discussion of the conditions that raise substantial doubt about the company's ability to continue as a going concern, an evaluation of the significance of these conditions, and management's plans to mitigate these risks. Additionally, the SEC requested information on Bakkt Holdings' current liquidity position, sources of liquidity, and the expected uses and timing of that liquidity. The SEC also inquired whether Bakkt Holdings considered revising or updating any other disclosures related to its ability to continue as a going concern. Bakkt Holdings is expected to respond to the SEC's comments by amending its registration statement and providing the requested information.