Bakkt wipes out long-term debt after redeeming 2026 convertible notes

[Bitcoin coins in front of bakkt sign made of wood with reflection on the table, Slovenia - December 27th]
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Bakkt Holdings (NYSE:BKKT [https://seekingalpha.com/symbol/BKKT]) shares perked up 8.6% in Monday afternoon trading after the crypto infrastructure platform said it has eliminated all remaining long-term debt after redeeming its outstanding 0.00% convertible debenture [https://seekingalpha.com/pr/20232343-bakkt-eliminates-all-remaining-long-term-debt] due June 18, 2026.

After this redemption, all obligations under the debenture, originally issued in June 2024, have been satisfied in full.

“Retiring the debenture eliminates a major overhang while further simplifying our capital structure,” said Akshay Naheta, CEO of Bakkt. “With a clean balance sheet and full flexibility, we can sharpen our focus on executing our strategy and delivering long-term value."

MORE ON BAKKT HOLDINGS

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* Bakkt Holdings, Inc. 2025 Q2 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4812364-bakkt-holdings-inc-2025-q2-results-earnings-call-presentation]
* Bakkt's Jump Into Bitcoin As A Treasury Strategy Distracts From Liquidity Angst [https://seekingalpha.com/article/4797716-bakkts-jump-bitcoin-treasury-strategy-distracts-liquidity-angst]
* Bakkt stock rises after Benchmark starts at Buy in new coverage [https://seekingalpha.com/news/4493082-bakkt-stock-rises-after-benchmark-starts-at-buy-in-new-coverage]
* Bakkt names Akshay Naheta as sole CEO and President as Andrew Main steps down [https://seekingalpha.com/news/4483763-bakkt-names-akshay-naheta-as-sole-ceo-and-president-as-andrew-main-steps-down]