The crypto custody and trading platform was cleared for a $150 million shelf offering just a week after declaring its ability to continue was a “going concern.”
Cash-poor crypto firm Bakkt says it has received regulatory approval to raise as much as $150 million through the sale of its securities, coming just a week after the firm signaled concerns over its balance sheet.
On Feb. 14, the firm said it had secured approval for a “shelf registration,” also known as a shelf offering — a process by which a company registers a new issue of securities with the Securities and Exchange Commission that can be gradually sold over a period without needing separate approval each time.
Bakkt said approval will allow Bakkt to raise an aggregate of $150 million in capital in one or more offerings over three years.
