Bakkt to Go Public Next Month After SEC OKs SPAC Plans

Bakkt Holdings and VPC Impact Acquisition Holdings (VIH) have received approval from the U.S. Securities and Exchange Commission to complete their merger and push forward with plans to operate as a single publicly traded entity, the companies said in an announcement Friday.

VIH shareholders will meet on Oct. 14 to approve the merger, the companies said.Cryptocurrency exchange Bakkt, which is majority-owned by Intercontinental Exchange (ICE), has been planning to go public via the merger with VIH, a special purpose acquisition company (SPAC).VIH is affiliated with Victory Park Capital.“We are thrilled to have reached this milestone and look forward to successfully completing the proposed business combination with VIH,” said Bakkt CEO Gavin Michael, who added that the company remained “excited about the unique growth opportunities ahead for our business, and are laser focused on furthering our vision of connecting the digital economy.”The companies first announced their intention to merge and take Bakkt public in January.

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