Bakkt Announces $48.1M Direct Offering, Shares Fall Over 6% Premarket
Bakkt priced a $48.125 million registered direct offering of 3,024,799 Class A shares and 2,475,201 pre-funded warrants at $8.75 each to close March 2, 2026. Shares plunged over 6% premarket as the stock tumbled 10.34% year-over-year and sits 16.8% below its 20-day and 50.4% below its 100-day SMA.
1. Direct Offering Details
Bakkt is issuing 3,024,799 Class A shares and 2,475,201 pre-funded warrants at $8.75 each in a registered direct offering, raising gross proceeds of $48.125 million. The offering is expected to close around March 2, 2026, with funds allocated to working capital, corporate purposes, and strategic initiatives.
2. Premarket Price Reaction
Shares fell 6.06% to $9.77 in premarket trading as investors weighed the dilutive impact of the offering. The increase of approximately 5.5 million total shares has heightened bearish sentiment.
3. Technical Downtrend
Over the past year, Bakkt’s stock has declined 10.34% and currently trades 16.8% below its 20-day simple moving average and 50.4% below its 100-day simple moving average, indicating sustained downward momentum.
4. Upcoming Earnings Catalyst
Bakkt is scheduled to report earnings on March 18, 2026, with analysts forecasting an EPS loss of $0.47 versus a $2.95 loss a year ago and revenue of $279.87 million compared to $1.80 billion year-over-year.