Bakkt announces 25-for-1 reverse stock split

Bakkt announced a reverse stock split of 1 to 25, aimed at increasing the stock price to meet the listing requirements of 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. After the reverse split, the company will continue to comply with exchange regulations and maintain the listing of its stock and public warrants. This move will also affect the number of authorized shares and employee incentive plans. The reverse split will be executed by Equiniti Trust Company, LLC, and no additional action is required for shareholders with electronic recordkeeping. Detailed information on the reverse split can be obtained from the SEC website and Bakkt's investor relations website.