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Benzinga

Business

Henry Khederian

Bakkt (BKKT) Shares Plummet 40% Tuesday: What's Going On?

analysis-4937349

Shares of digital asset platform Bakkt Holdings Inc (NYSE:BKKT) are trading sharply lower Tuesday, plummeting over 40% after the company announced the pricing of a public offering late Monday. The move aims to raise approximately $75 million in gross proceeds.

What To Know: The offering, priced at $10.00 per share, consists of 6,753,627 shares of its Class A common stock. It also includes pre-funded warrants to purchase up to an additional 746,373 shares.

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One subscription that gives you access to news from hundreds of sites

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