Overview
- Bakkt will issue Class A shares equal to 31.5% of the Bakkt Share Number—currently about 9.13 million—valuing DTR at roughly $178 million based on recent prices.
- Completion requires regulatory clearance and a shareholder vote, with ICE’s approximately 31% stake pledged in favor and an independent special committee already approving.
- The acquisition brings DTR’s ION Network in-house to consolidate stablecoin settlement and programmable payments and to position Bakkt for a neobanking rollout.
- Bakkt said it will change its corporate name to Bakkt, Inc. on January 22 and will hold an investor day on March 17 at the New York Stock Exchange.
- BKKT rose about 18% after the announcement, closing at $19.21 after briefly trading above $20.