Bakkt Gives Particulars on Certain Preliminary Money Final results for Fourth Quarter 2021

ALPHARETTA, Ga., February 03, 2022–(Business WIRE)–Bakkt Holdings, Inc. (“Bakkt”) (NYSE: BKKT) announced nowadays facts on sure preliminary money final results for fourth quarter 2021, which reflect, amongst other points, certain impacts of its small business mix with VPC Affect Acquisition Holdings (VIH) that closed on Oct 15, 2021.

Intercontinental Exchange, Inc. (NYSE: ICE) (“ICE”) announced now that its fourth quarter final results will consist of an believed ($92 million)1 loss on its fairness strategy financial investment affiliated with its original 68% non-managing financial commitment in Bakkt for the submit-business mixture time period from Oct 15 – December 31, 2021. In buy to present supplemental context, Bakkt expects a pre-tax decline of somewhere around ($150 – $155 million) for the post-enterprise mixture interval. These preliminary outcomes contain specific substantial things relevant to the enterprise mixture, which are mostly non-hard cash, and include:

  • Non-funds compensation believed cost of ($45 – $50 million) related to the issuance of Course V widespread stock of Bakkt and prevalent units of the previous Bakkt mum or dad corporation in trade for legacy interests in that former mum or dad corporation working with an original combination valuation of $2.1 billion

  • Estimated acquisition-connected price of ($2 million) connected to the company combination with VIH and

  • Non-hard cash mark-to-industry cost of approximately ($79 million) relevant to the good value of warrant liabilities issued by VIH prior to the enterprise combination.

As formerly announced, Bakkt will concern its fourth quarter and entire yr 2021 earnings on February 17, 2022 right before the sector opens. Administration will host a convention connect with on the very same day at 9:00 a.m. EST to explore the success. Be sure to refer to our earlier press release for further more details.


Bakkt is in the approach of completing its year-conclusion shut and evaluate strategies of its fiscal statements for the fourth quarter and comprehensive 12 months of 2021. The preliminary financial effects introduced in this press launch are unaudited and are thus inherently unsure and subject matter to change as Bakkt completes its economical outcomes. As it finalizes its money statements and similar notes as of and for the calendar year ended December 31, 2021, Bakkt and its independent registered general public accountants may perhaps detect items that could cause last reported success to be materially diverse from the preliminary monetary estimates offered herein. Furthermore, added information and disclosures would be required for a additional entire comprehension of Bakkt’s fiscal placement and effects of functions as of and for the fourth quarter, which includes evaluation of Bakkt’s results for the period prior to the consummation of the business enterprise mix (i.e., Oct 1, 2021 – October 14, 2021), none of which are presented in this push release. Appropriately, undue reliance ought to not be placed on the preliminary information and facts presented in this push release.

This push launch has “ahead-wanting statements” in just the indicating of Segment 27A of the Securities Act of 1933, as amended, and Area 21E of the Securities Trade Act of 1934, as amended. This kind of statements incorporate, but are not constrained to, the preliminary monetary benefits, amongst other individuals. Ahead-hunting statements can be discovered by words this kind of as “will,” “most likely,” “anticipate,” “keep on,” “anticipate,” “estimate,” “feel,” “intend,” “system,” “projection,” “outlook” or words and phrases of related this means. These kinds of forward-on the lookout statements are centered on the existing beliefs and anticipations of Bakkt’s management and are inherently subject matter to sizeable business, financial and competitive uncertainties and contingencies, a lot of of which are complicated to predict and beyond Bakkt’s command. Real benefits and the timing of activities may possibly vary materially from the effects predicted in this sort of ahead-on the lookout statements. You are cautioned not to area undue reliance on this sort of ahead-wanting statements. These types of forward-hunting statements relate only to occasions as of the day on which these types of statements are created and are based mostly on info available to us as of the day of this push release. Other than as essential by legislation, we undertake no obligation to update any forward-hunting statements designed in this push release to mirror activities or situation just after the day of this push release or to replicate new information or the incidence of unanticipated activities.

The pursuing elements, amid others, could result in true outcomes and the timing of activities to differ materially from the expected benefits or other expectations expressed in this sort of ahead-seeking statements: (i) a hold off or failure to understand the predicted added benefits from the business enterprise blend (ii) dangers relevant to disruption of administration time from ongoing small business operations because of to put up-closing organization mix matters (iii) the affect of the ongoing COVID-19 pandemic (iv) adjustments in the markets in which Bakkt competes, including with regard to its competitive landscape, engineering evolution or regulatory alterations (v) improvements in the markets that Bakkt targets (vi) risk that Bakkt may well not be able to execute its progress procedures, such as determining and executing acquisitions (vii) dangers relating to data safety and (viii) hazard that Bakkt might not be capable to create and manage successful inside controls. The foregoing checklist of components is not exhaustive. You need to very carefully consider the foregoing variables and the other risks and uncertainties described in the “Chance Factors” part of the definitive proxy assertion/prospectus submitted by Bakkt (below the title VPC Effects Acquisition Holdings) on September 17, 2021 and other filings that Bakkt might, from time-to-time, make with the Securities and Trade Fee.

About Bakkt

Bakkt is a reliable electronic asset platform that allows individuals to get, sell, keep and expend electronic property. Bakkt’s platform, now accessible by way of the Bakkt Application and to companions, amplifies consumer paying out and bolsters loyalty programs, introducing worth for all essential stakeholders in the Bakkt payments and digital property ecosystem. Released in 2018, Bakkt is headquartered in Alpharetta, GA. For much more data, check out: | Twitter @Bakkt | LinkedIn

Supply: Bakkt Holdings, Inc.

1 The amount of money is a preliminary estimate that does not reflect all changes produced as section of Bakkt’s 12 months-end economical assertion shut process, such as Bakkt’s remaining adjustments for tax.

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Trader Relations
Ann DeVries, Head of Trader Relations
[email protected]

Lauren Article, Head of Communications
[email protected]

Simonne Stigall

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