Beleaguered Bakkt Completes $32 Million Direct Offering

The fundraise comes after dire warnings of insolvency at Wall Street’s once-hot crypto infrastructure play.SOPA Images/LightRocket via Getty ImagesCrypto infrastructure firm Bakkt completed two securities purchase agreements collectively worth $32.4 million on Monday after it warned investors of a cash crunch last month.The first transaction involved the issuance of approximately 35 million shares of Bakkt’s Class A common stock and pre-funded warrants at about 87 cents per share in a registered direct offe ...