Intercontinental Exchange, Inc. (ICE), a significant shareholder in Bakkt Holdings, Inc., filed an amendment to its Schedule 13D with the U.S. Securities and Exchange Commission (SEC) on April 25, 2024, indicating a change in its ownership stake. The filing, known as Amendment No. 4, reports that ICE now beneficially owns 7,453,112 shares of Bakkt Holdings, representing 55.6% of the company's common stock. This ownership percentage is subject to a voting agreement that limits ICE's voting power to 30% as long as it and its affiliates own 50% or more of the total voting power of Bakkt Holdings. The amendment reflects the 1-for-25 reverse stock split executed by Bakkt Holdings on April 26, 2024. Additionally, the amendment details the acquisition of Class A Common Stock and warrants by...Show More

Intercontinental Exchange, Inc. (ICE), a significant shareholder in Bakkt Holdings, Inc., filed an amendment to its Schedule 13D with the U.S. Securities and Exchange Commission (SEC) on April 25, 2024, indicating a change in its ownership stake. The filing, known as Amendment No. 4, reports that ICE now beneficially owns 7,453,112 shares of Bakkt Holdings, representing 55.6% of the company's common stock. This ownership percentage is subject to a voting agreement that limits ICE's voting power to 30% as long as it and its affiliates own 50% or more of the total voting power of Bakkt Holdings. The amendment reflects the 1-for-25 reverse stock split executed by Bakkt Holdings on April 26, 2024. Additionally, the amendment details the acquisition of Class A Common Stock and warrants by ICEH during the Subsequent Closing under the Securities Purchase Agreement on April 25, 2024. The acquired warrants are not exercisable until September 4, 2024. The filing also includes an amendment to the Surviving Company LLC Agreement in connection with the reverse stock split. The amendment is part of a series of filings that began with the initial Schedule 13D filed on October 21, 2021, and includes subsequent amendments filed on May 5, 2022, April 28, 2023, and March 4, 2024.