Bakkt Holdings Stock Tanks Amid $40M Direct Offerings News
Thursday, 29 February 2024, 19:35
Bakkt Holdings Stock Plummets After Direct Offerings
Bakkt Holding (BKKT) stock plunged by 36% following the announcement of two agreements regarding the sale of class A common stock and warrants. The company aimed to raise $50M in gross proceeds as part of this fundraising strategy.
Key Points:
- Significant Drop: Stock price plummeted by 36% after the news.
- Financial Boost: Bakkt expected to raise $50M through the direct offerings.
Although the move is intended to strengthen Bakkt's financial standing, the market reacted negatively to the announcement, sparking concerns among investors.
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