BAKKT HOLDINGS, INC., 10-Q/A filed on 2/8/2024
Amended Quarterly Report
v3.24.0.1
Cover - shares
9 Months Ended
Sep. 30, 2023
Nov. 10, 2023
Entity Information [Line Items]    
Document Type 10-Q/A  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2023  
Document Transition Report false  
Entity File Number 001-39544  
Entity Registrant Name BAKKT HOLDINGS, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 98-1550750  
Entity Address, Address Line One 10000 Avalon Boulevard  
Entity Address, Address Line Two Suite 1000  
Entity Address, City or Town Alpharetta  
Entity Address, State or Province GA  
Entity Address, Postal Zip Code 30009  
City Area Code 678  
Local Phone Number 534-5849  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
Entity Shell Company false  
Amendment Description EXPLANATORY NOTEBakkt Holdings, Inc. (Bakkt,” “we,” “us,” “our,” or the “Company”) is filing this Amendment No. 2 to its Quarterly Report on Form 10-Q/A for the quarterly period ended September 30, 2023 (this “Amended Form 10-Q” or “10-Q/A”), as originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 14, 2023 (the “Original Form 10-Q”).The final paragraph of the explanatory note of Amendment 1 to the Original Form 10-Q inadvertently omitted certain context around our going concern risk factor, which paragraph has been corrected and revised as below.This Amended Form 10-Q is presented as of the filing date of the Original Form 10-Q and does not (i) reflect events occurring after that date, except with respect to the information regarding our ability to continue as a going concern in Part II, Item 1A and certain business updates included in Part II, Item 6, or (ii) modify or update disclosures in any way other than as required to reflect the amendment and restatement as described below. Accordingly, this Amended Form 10-Q should be read in conjunction with the Original Form 10-Q and our filings with the SEC subsequent to the date on which we filed the Original Form 10-Q. This Amended Form 10-Q does not change our consolidated financial statements as set forth in the Original Form 10-Q.The purpose of this Amended Form 10-Q is to (i) amend and restate the disclosure in Part II, Item 1A “Risk Factors” to provide further updates to certain risks resulting from changes to the Company’s business following its acquisition (the “Bakkt Crypto Acquisition”) of Bakkt Crypto Solutions, LLC (“Bakkt Crypto”), formerly Apex Crypto LLC (“Apex Crypto”), and to add a risk factor related to our ability to continue as a going concern as we have subsequently deemed there to be substantial doubt regarding our ability to continue as a going concern 12 months following the date of this Amended Form 10-Q without raising capital, and (ii) amend and restate Part II, Item 5, which provides an update to the Company’s business activities following the Bakkt Crypto Acquisition. Part II, Item 6 “Exhibits” has also been amended and restated to include currently dated certifications of the Company’s principal executive officer and principal financial officer as required by Sections 302 and 906 of the Sarbanes Oxley Act of 2002. The certifications are attached to this Amended Form 10-Q as Exhibits 31.1, 31.2, 32.1 and 32.2.  
Amendment Flag true  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2023  
Current Fiscal Year End Date --12-31  
Entity Central Index Key 0001820302  
Common Class A    
Entity Information [Line Items]    
Title of 12(b) Security Class A Common Stock, par value $0.0001 per share  
Trading Symbol BKKT  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   91,429,477
Warrant    
Entity Information [Line Items]    
Title of 12(b) Security Warrants to purchase Class A Common Stock  
Trading Symbol BKKT WS  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   7,140,808
Common Class V    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   183,234,872