Summary by Moomoo AI
Bakkt Holdings, Inc. has announced a special meeting of stockholders to be held virtually on April [], 2024. The meeting is set to address two key proposals: the NYSE Issuance Proposal and the Reverse Stock Split and Related Matters Proposal. The NYSE Issuance Proposal involves obtaining stockholder approval for the issuance of shares exceeding the 20% threshold of the NYSE's Listed Company Manual, due to recent concurrent registered direct offerings. The Reverse Stock Split and Related Matters Proposal seeks to effect a reverse stock split of the company's Class A and Class V Common Stock at a ratio of 1-for-25, alongside a corresponding reduction in the number of authorized shares, to regain compliance with the NYSE's minimum bid price requirement. The Board of Directors has unanimously recommended voting in favor of both proposals. The meeting's record date was set for March 21, 2024, and stockholders are encouraged to vote their shares in advance of the meeting.
