​On October 15, 2021, Bakkt Holdings, LLC, the digital asset marketplace founded in 2018, announced that it has completed the previously announced business combination with VPC Impact Acquisition Holdings, a special purpose acquisition company. The combined company now operates as Bakkt Holdings, Inc., and Bakkt’s shares of Class A common stock and warrants began trading on the New York Stock Exchange under the ticker symbols “BKKT” and “BKKT WS”, respectively, starting Monday, October 18, 2021. Wilson Sonsini Goodrich & Rosati advised Bakkt on the transaction.

The business combination resulted in gross proceeds of approximately $448 million to Bakkt. The transaction proceeds are expected to be used to finance investments in the company’s platform capabilities and marketing efforts, and accelerating current and future partnerships, which the company expects will significantly accelerate the growth trajectory of the business.

The Wilson Sonsini team that advised Bakkt on the transaction includes: Matt Lyons, Austin March, Emily Coskey, Olivia Cusimano, Melanie Froh, and Marianne Stark Bradley, with assistance from Courtney Matteson, Keith Eggleton, Michael Montfort, Nika Antonikova, Derek Wallace, and Elizabeth Bordenave.

For more information, please see Bakkt’s press release.