Bakkt is set to go public after completing its merger with VPC Impact Acquisition Holdings (VIH).
Bakkt to go public via a SPAC deal
Bakkt has merged with VPC Impact Acquisition Holdings (VIH) in a deal that would see the cryptocurrency-focused company go public next month. The merger will allow Bakkt to become a publicly-listed company via a SPAC deal.
A press release published this weekend said, “PC Impact Acquisition Holdings (NASDAQ: VIHAU, VIH and VIHAW) (“VIH”), a publicly-traded special purpose acquisition company, and Bakkt Holdings, LLC (“Bakkt”), the digital asset marketplace founded in 2018, announced today that the U.S. Securities and Exchange Commission (“SEC”) has declared effective VIH’s Registration Statement on Form S-4 (the “Registration Statement”), as amended, which was filed in connection with VIH’s previously announced business combination (the “Business Combination”) with Bakkt.”
The US SEC has approved the merger, and Bakkt can become a publicly-listed company. Bakkt CEO Gavin Michael said the company is thrilled to have reached this milestone and looks forward to successfully completing the proposed business combination with VIH.
He added that Bakkt remains excited about the unique growth opportunities ahead for their business and is laser-focused on furthering their vision of connecting the digital economy.
More crypto companies are planning to go public
Numerous crypto and blockchain-focused companies have indicated their willingness to become publicly listed companies. Earlier this month, Blockchain.com revealed that it has processed more than $1 trillion in crypto transactions over the past decade and intends to go public soon.
Other crypto entities that want to go public include Kraken, Circle, Binance and a few others.