BKKT Stock Falls To 5-Month Lows – What Happened?

• Bakkt is expected to sell around 3 million shares of its Class A common stock and pre-funded warrants.
• The shares are priced at $8.75 each, while the pre-funded warrants are priced at $8.7499 per warrant.
• The offering is expected to close on or around March 2, 2026.

Shares of Bakkt, Inc. (BKKT) fell more than 8% on Friday, after the company priced a $48 million registered direct offering to a single institutional investor.

BKKT stock was trading at its lowest levels since Sept. 25, 2025, at the time of writing, having slumped over 14% in pre-market-trading.

The company is expected to sell a little over 3 million shares of its Class A common stock and pre-funded warrants to purchase up to 2.5 million additional shares. The shares are priced at $8.75 each, while the pre-funded warrants are priced at $8.7499 per warrant.

The offering is expected to close on or around March 2, 2026. The company said it plans to use the net proceeds for working capital, general corporate purposes, and strategic initiatives.

Acquisition Of DTR

In January, Bakkt recently announced plans to acquire Distributed Technologies Research (DTR), a stablecoin payments infrastructure provider. As part of the deal, Bakkt will issue roughly 9.1 million shares of Class A common stock to DTR shareholders, representing about 31.5% of the agreed share number.

Bakkt also launched a new at-the-market equity program that allows it to raise up to $300 million. The company said the added flexibility will support global expansion and growth initiatives. Additionally, Bakkt partnered with Nexo, which will use Bakkt’s U.S. trading infrastructure to re-enter the U.S. market to offer digital asset services.

How Did Stocktwits Users React?

Retail sentiment on Stocktwits remained ‘bullish’ over the past 24 hours, amid ‘high’ message volumes.

One user expects the stock to climb back up to $10. It is currently trading around $9.5.

Year-to-date, the stock fell over 8%.

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