Bakkt Holdings and VPC Impact Acquisition Holdings today announced that they have entered into a definitive agreement for a business combination with an enterprise value of approximately $2.1 billion. The combined company will be renamed Bakkt Holdings, and will be listed on the NYSE.
If approved by shareholders, the deal would deliver more than $500 million to Bakkt, including up to $207 million of cash held in the SPAC’s trust and a $325 million concurrent PIPE of Class A common stock of the combined company, priced at $10 per share.
Bakkt is a provider of institutional and retail solutions for digital assets. Bakkt provides a mobile application enabling consumers to unlock the value of digital assets, including cryptocurrency, loyalty points, in-game assets, and gift cards. Read more.
