Bakkt announces a 1-for-25 reverse stock split

Bakkt has announced that it will be conducting a 1-for-25 reverse stock split designed to increase the share price to comply with listing requirements on the New York Stock Exchange. The split will begin trading on April 29, 2024, and will apply to Class A common stock and Class V common stock. Following the reverse split, the company will continue to comply with exchange regulations and maintain the listing of shares and public call warrants. The move will also affect the number of stock authorizations and employee incentive programs. The reverse split will be executed by Equiniti Trust Company, LLC and no additional action will be required against shareholders who are electronically bookkeeping. Details of the reverse split are available on the SEC website and the Bakkt Investor Relations website.