Bakkt Launches $300M ATM Equity Program To Fund Global Expansion And Growth Initiatives

Bakkt Holdings, Inc. ("Bakkt" or the "Company") (NYSE:BKKT) today announced that pursuant to its existing shelf registration statement filed in June 2025 it has established an at-the-market ("ATM") equity program. The program provides Bakkt with the ability, but not the obligation, to offer and sell shares of its common stock from time to time, at its sole discretion, for aggregate gross proceeds of up to $300 million. As of the date of this release, no shares have been sold under the ATM program.

The ATM program is intended to enhance Bakkt's financial flexibility and position the Company to capitalize on attractive growth opportunities as they arise, while maintaining disciplined capital allocation. The Company expects to use this flexibility to accelerate execution of its long-term growth strategy, including expanding distribution of the Bakkt Agent initiative, rapidly scaling Zaira's stablecoin payments platform, increasing investment in the Bakkt Global initiative by accelerating the Company's previously announced expansion plans in Japan and India, as well as entering additional high-potential markets to build on our strong and growing global momentum.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Bakkt is under no obligation to issue shares under the program and will do so only if and when it believes such issuances are in the best interests of the Company and its shareholders.