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Bakkt Seeks Shareholder Approval for Major Stock Issuance Tied to DTR Deal

Tipranks - Tipranks - Sat Feb 14, 4:34PM CST

New activity is brewing for Bakkt Holdings, Inc. Class A ( (BKKT) ). The company has submitted a Form DEFM14A to the SEC, indicating an upcoming shareholder vote. This form gives shareholders all the information they need to develop an informed vote. Read on to learn more about the proposed company action.

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Bakkt has called a virtual special meeting of stockholders on March 24, 2026, seeking approval to issue new Class A shares as part of its acquisition of Distributed Technologies Research Global Ltd. The issuance would equal 31.5% of Bakkt’s fully diluted share count immediately before closing, potentially raising the total outstanding Class A shares from 25,761,710 to about 34,976,178, with DTR owners, including CEO Akshay Naheta, receiving a substantial stake.

The company is also asking investors to approve a possible adjournment of the meeting to secure enough votes for the share issuance proposal if needed. The board, with Naheta recused, unanimously backs both measures, signaling a strong commitment to closing the DTR transaction and reshaping Bakkt’s capital structure and governance balance in favor of completing this strategic acquisition.

The most recent analyst rating on (BKKT) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Bakkt Holdings, Inc. Class A stock, see the BKKT Stock Forecast page.

Spark’s Take on BKKT Stock

According to Spark, TipRanks’ AI Analyst, BKKT is a Neutral.

Overall score is held back primarily by weak financial performance (persistent losses and negative operating cash flow) despite improving gross margin and low leverage. Offsetting factors include a constructive earnings-call outlook (strong adjusted EBITDA, cash position, transformation plan) and a positive strategic acquisition, while technical indicators are only moderately supportive and valuation remains challenged due to negative earnings and no dividend.

To see Spark’s full report on BKKT stock, click here.

More about Bakkt Holdings, Inc. Class A

Bakkt, Inc. operates in the digital asset and financial technology space, offering platforms and services that facilitate the use, trading and custody of cryptocurrencies and other digital assets. The company targets both institutional and retail stakeholders, leveraging public equity markets via its Class A common stock listed on the New York Stock Exchange.

Average Trading Volume: 1,438,731

Technical Sentiment Signal: Sell

Current Market Cap: $340.1M

Learn more about BKKT stock on TipRanks’ Stock Analysis page.

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