Bakkt to conduct 1-for-25 reverse stock split to meet NYSE listing requirements

Bakkt announced that after approval from the company's shareholders and board of directors, the company will conduct a 1-for-25 reverse stock split to increase the stock price to meet the listing requirements of the New York Stock Exchange (NYSE). The split will take effect 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 Class A common stock and public warrants will continue to be listed on the NYSE with the codes "BKKT" and "BKKT WS," respectively. After the stock reverse split, the company's Class A common stock will have a new CUSIP number (05759B 305), and the CUSIP number of the company's public warrants will not change. (BusinessWire)