{"id":71538,"date":"2024-02-15T19:28:29","date_gmt":"2024-02-15T23:28:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=71538"},"modified":"2024-02-15T19:29:44","modified_gmt":"2024-02-15T23:29:44","slug":"bakkt-receives-green-light-for-150m-securities-sale","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bakkt-receives-green-light-for-150m-securities-sale\/","title":{"rendered":"Bakkt Receives Green Light for $150M Securities Sale"},"content":{"rendered":"\n

Bakkt said in a statement that it has been given authorization to fund<\/a> $150 million through the sale of its securities in one or more offers spread over a three-year period. <\/p>\n\n\n\n

\"Bakkt
Bakkt Receives Green Light for $150M Securities Sale<\/figcaption><\/figure>\n\n\n\n

This follows the company's statement to the Securities and Exchange Commission<\/a> (SEC) last week, expressing worries regarding its balance sheet. Bakkt's assertion:<\/p>\n\n\n\n

\n

“Bakkt believes the flexibility of a shelf registration on Form S-3 will provide the Company with significant benefits when raising capital in the future.”<\/p>\n<\/blockquote>\n\n\n\n

In order to finance its long-term goals, Bakkt stated at the time that it wanted to generate additional funds \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>by releasing its listed securities on the public markets.<\/p>\n\n\n\n

The company disclosed net losses for eight straight quarters following its October 2021 public debut. Bakkt recorded sales for the second quarter of 2023 of $348 million, compared to $14 million for the same period the previous year.<\/p>\n\n\n\n

Last week, Bakkt declared that it would run out of money if it couldn't obtain money through share dilution or debt financing. The company's aggressive aspirations to reach new areas were the cause of the worry. <\/p>\n\n\n\n

The company realized that the only way it could ensure meaningful revenue growth would be to return to previous levels. According to Bakkt management, this might make it impossible to achieve sustainable profitability and create enough cash flow<\/a> without quickly obtaining more funding.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bakkt said in a statement that it has been given authorization to fund $150 million through the sale of its securities in one or more offers spread over a three-year period. This follows the company’s statement to the Securities and Exchange Commission (SEC) last week, expressing worries regarding its balance sheet. Bakkt’s assertion: “Bakkt believes […]<\/p>\n","protected":false},"author":43,"featured_media":71540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[733,2119,143],"class_list":["post-71538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bakkt","tag-funds","tag-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/02\/croc_1708038424912.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=71538"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71538\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/71540"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=71538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=71538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=71538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}