{"id":39224,"date":"2025-07-28T21:46:53","date_gmt":"2025-07-28T21:46:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=39224"},"modified":"2025-07-28T21:46:53","modified_gmt":"2025-07-28T21:46:53","slug":"bakkt-sells-loyalty-business-and-pivots-to-pure-play-crypto-offers-shares","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=39224","title":{"rendered":"Bakkt Sells Loyalty Business and Pivots to Pure-Play Crypto, Offers Shares"},"content":{"rendered":"<div>\n<p>Technology platform Bakkt (BKKT) is moving to complete its transition into a pure-play crypto infrastructure firm with the planned sale of its loyalty business, the company said in a <a href=\"https:\/\/investors.bakkt.com\/news\/news-details\/2025\/Bakkt-Announces-Preliminary-Second-Quarter-2025-Financial-Results-and-Definitive-Agreement-to-Sell-Loyalty-Business\/default.aspx\">press release<\/a> Monday.<\/p>\n<p>The Nasdaq-listed company has entered into a definitive agreement to sell the unit to Project Labrador Holdco, a subsidiary of Roman DBDR Technology Advisors. <\/p>\n<p>The deal, expected to close in Q3 2025, includes $11 million in cash, adjustments for working capital and debt and a short-term restricted cash loan to facilitate the handoff.<\/p>\n<p>\u201cWith the pending sale of our Loyalty business, Bakkt is achieving a significant milestone and fully embracing its future as a streamlined, pure-play crypto infrastructure company,\u201d Andy Main, president and co-CEO of Bakkt, said in the release.<\/p>\n<p>The announcement came alongside preliminary second-quarter crypto revenues, estimated between $568 million and $569 million, and plans for a <a href=\"https:\/\/investors.bakkt.com\/news\/news-details\/2025\/Bakkt-Announces-Proposed-Public-Offering\/default.aspx\">public offering of Class A shares<\/a> and\/or pre-funded warrants. <\/p>\n<p>The proceeds will be used to purchase digital assets, fund working capital and support general corporate needs, Bakkt said. <\/p>\n<p>Timing and terms of the offering remain subject to market conditions, the company said<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/03\/21\/bakkt-names-akshay-naheta-as-co-ceo-amid-stablecoin-payments-push\"><span style=\"text-decoration:underline\">Bakkt Names Akshay Naheta as Co-CEO Amid Stablecoin Payments Push<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Technology platform Bakkt (BKKT) is moving to complete its transition into a pure-play crypto infrastructure firm with the planned sale of its loyalty business, the company said in a press release Monday. The Nasdaq-listed company has entered into a definitive agreement to sell the unit to Project Labrador Holdco, a subsidiary of Roman DBDR Technology [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-39224","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39224"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39224\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}