- Bakkt Holdings, Inc. (BKKT) has **redeemed its outstanding 0.00% convertible debenture** due June 18, 2026.  **[1820302_23fbb10bdfe74489b183964bbcf691e2_0]** 
- This action **eliminates all remaining long-term debt** for the company, strengthening its financial position and providing balance sheet flexibility.  **[1820302_23fbb10bdfe74489b183964bbcf691e2_0]** 
- The debenture was originally issued in **June 2024**.  **[1820302_23fbb10bdfe74489b183964bbcf691e2_0]**

Bakkt Eliminates All Remaining Long-term Debt

- Bakkt Holdings, Inc. is undergoing a strategic transformation to become a **pure-play crypto infrastructure company**.  **[1820302_0001820302-25-000005_bakkt-20250826.htm:1]** 
- Public Platform LLC provided notice on **August 26, 2025**, to begin offboarding customers from Bakkt's platform by **October 31, 2025**.  **[1820302_0001820302-25-000005_bakkt-20250826.htm:1]** 
- The company expects to close the sale of its loyalty and travel redemption business in the **third quarter of 2025**.  **[1820302_0001820302-25-000005_bakkt-20250826.htm:1]** 
- Bakkt signed a **nonbinding letter of intent** with ICE Digital Trust, LLC (IDT) on **August 29, 2025**, for IDT to provide custody services for Bakkt's digital assets and for Bakkt to resell IDT's services.  **[1820302_0001820302-25-000005_bakkt-20250826.htm:1]** 
- An extraordinary general meeting for Marusho Hotta Co., Ltd. (MHT), in which Bakkt acquired approximately **30%**, is expected in **October 2025** to discuss a change in corporate purpose and issuance of preferred stock and warrants.  **[1820302_0001820302-25-000005_bakkt-20250826.htm:1]** 

The revenue contribution from Public Platform LLC was:

| Metric | Year ended Dec 31, 2024 | Six months ended June 30, 2025 |
|:---|:---|:---|
| Public Platform LLC % of Crypto Services Revenue | **9.4%**  **[1820302_0001820302-25-000005_bakkt-20250826.htm:1]**  | **14.5%**  **[1820302_0001820302-25-000005_bakkt-20250826.htm:1]**  |

Bakkt Holdings (BKKT)