The Bakkt (BKKT) technology platform is moving to complete its transition to an infrastructure of Cryptographic Pure Game with the planned sale of its loyalty business, the company said in a press release on Monday.
The company that is quoted at Nasdaq has concluded a definitive agreement to sell the unit to Project Labrador Holdco, a subsidiary of Roman DBDR Technology Advisors.
The agreement is expected to close in the third quarter of 2025, includes $ 11 million in cash, working capital and debt adjustments and a short -term restricted cash loan to facilitate transfer.
“With the pending sale of our loyalty business, Bakkt is achieving a significant milestone and is adopting its future as an optimized and pure cryptographic infrastructure company,” said Andy Main, president and co-Co-Co-Co-Co-Co-co-in the statement.
The announcement occurred together with preliminary cryptographic revenues of the second quarter, estimated between $ 568 million and $ 569 million, and plans for a public offer of class A shares and/or prefinanced orders.
Income will be used to buy digital assets, finance working capital and support general corporate needs, Bakkt said.
The time and terms of the offer are subject to market conditions, said the company
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