Bakkt Holdings (BKKT), a digital asset platform, has submitted an S-3 registration statement to the US SEC to raise up to $1 billion through various securities offerings. The funds will be used for general corporate purposes, including working capital, and may also facilitate the purchase of Bitcoin (BTC) or other digital assets under a revised investment policy. Filed on June 26, the shelf registration allows Bakkt to register multiple securities in advance, enabling future sales when market conditions are favorable. The offering includes Class A common stock, preferred stock, debt securities, and warrants. Despite financial challenges, including a reliance on a single client that will not renew its agreement, Bakkt's announcement led to a 3.09% increase in stock price to $13.3, although it later dipped slightly in after-hours trading. If Bakkt invests in Bitcoin, it will join other firms that have seen positive stock price impacts from similar strategies, despite mixed results across the market. Read more AI-generated news on: https://app.chaingpt.org/news

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