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All unfavourable information!! The Nasdaq-listed technology platform Bakkt announced the sale of its loyalty business for $11 million, pushing towards a transformation into a pure encryption infrastructure company, with the deal expected to be completed in the third quarter of 2025.
At the same time, Bakkt plans to publicly issue Class A shares and pre-funded warrants to raise funds for purchasing Bitcoin, supplementing working capital, and meeting the company's daily needs. The company's disclosed second-quarter encryption revenue is expected to be between $568 million and $569 million. The timing and terms of the public offering will depend on market conditions. (Speculative Expert)