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<a href="https://bitcoinworld.co.in/bakkt-gets-approval-for-150m-securities-sale/" title="Bakkt Gets Approval For $150m Securities Sale" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Bakkt announced that it has gotten approval from the US SEC for securities sale.</li>
 <li style="font-weight: 400">Its Form S-3 for shelf registration is now effective after SEC approval.</li>
 <li style="font-weight: 400">The crypto firm can raise $150 million from securities sales over three years.</li>
</ul>
According to a latest <a href="https://bakkt.com/newsroom/bakkt-issues-statement-regarding-filed-amendments-to-third-quarter-form-10q" rel="noopener noreferrer nofollow">report</a>, Bakkt just got a lifeline that could save it from the brink – approval from the US Securities and Exchange Commission (SEC) for its shelf registration application.
<h3 id="span-style-font-weight-400-bakkt-seeks-150-million-in-securities-sale-span">Bakkt Seeks $150 Million In Securities Sale</h3>
The cash-strapped crypto firm announced late Wednesday that the SEC approved the crypto custody and trading platform’s “universal shelf” registration as indicated in a recently filed Form S-3.&nbsp;
The regulatory nod allows Bakkt to raise new capital via securities sale offers over the next three years.
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Specifically, the shelf registration means the crypto company can raise up to $150 million in new capital without the need to seek fresh SEC approval every time.&nbsp;
This can be in one or more offerings as long as the registration is effective, the company noted in a press release.
“If Bakkt decides to raise capital in a future offering using such a registration statement, Bakkt will describe the specific details of that future offering in a prospectus supplement that is filed with the SEC,” it added.
Bakkt’s lifeline comes after the company’s recent statement highlighted its financial status.
&nbsp;While Bitcoin and the broader crypto market recorded impressive gains in 2023, the custody provider returned millions of dollars’ in losses.
The publicly-listed company, which has recorded net losses of $2.26 billion since Q4, 2021, noted concerns over its “ability to continue” in a statement on February 8, 2024.&nbsp;
The statement related to Bakkt’s amendments to its Form 10-Q for Q3, 2023.
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The post <a href="https://bitcoinworld.co.in/bakkt-gets-approval-for-150m-securities-sale/" rel="noopener noreferrer nofollow">Bakkt Gets Approval For $150m Securities Sale</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Bakkt Gets Approval For $150m Securities Sale

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