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Bakkt Holdings, Inc. (NYSE:BKKT), a digital asset platform with a market capitalization of $924 million, adjourned its special meeting of shareholders on Tuesday after a vote to approve the adjournment passed with 10,529,967 shares in favor, 1,239,865 shares against, and 16,263 abstentions, according to a statement released in a recent SEC filing. The company’s stock has shown significant momentum, gaining nearly 14% in the past week. InvestingPro data reveals the stock has been particularly volatile, with several additional key metrics available to subscribers.
The special meeting, originally convened to consider the Options Proposal as outlined in the company’s proxy statement dated September 9, 2025, did not have sufficient votes to approve the proposal. As a result, the company’s board called for a vote on adjourning the meeting to allow additional time to solicit proxies.
With the adjournment proposal approved by a majority of shares represented in person or by proxy, the chairman adjourned the meeting without opening the polls on the Options Proposal. The meeting is now scheduled to reconvene on October 31, 2025, at 1:00 p.m. Eastern Time. The reconvened meeting will be held virtually via live webcast.
Shareholders of record as of the close of business on September 3, 2025, remain eligible to participate and vote at the reconvened meeting. Those who have already submitted proxies or cast votes and do not wish to change their vote are not required to take further action.
Until the meeting reconvenes, Bakkt Holdings will continue to solicit proxies from shareholders regarding the Options Proposal. The company stated that it does not plan to change the record date for voting eligibility.
This information is based on a statement included in Bakkt Holdings’ recent filing with the Securities and Exchange Commission.
In other recent news, Bakkt Holdings, Inc. has completed the sale of its Loyalty business to Project Labrador Holdco, LLC, marking a strategic shift towards focusing on its core digital asset operations. This transition underscores Bakkt’s commitment to developing its platform for Bitcoin, tokenization, digital asset trading, stablecoin payments, and AI-driven finance. In another development, Benchmark has raised its price target for Bakkt to $40, maintaining a Buy rating, reflecting confidence in the company’s growth potential. The company’s shares have seen significant appreciation recently, as noted by Benchmark’s analysis.
Additionally, Bakkt has appointed Mike Alfred to its Board of Directors following the resignation of De’Ana Dow. Alfred’s appointment is aimed at bolstering the company’s governance as it seeks to capitalize on transformations in global financial infrastructure. Alfred, a seasoned investor and advisor, brings substantial experience from his previous roles, including co-founding BrightScope and Digital Assets Data. His expertise is expected to contribute positively to Bakkt’s strategic initiatives. These recent developments highlight Bakkt’s ongoing efforts to strengthen its position in the digital asset sector.
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