08:47 AM EDT, 10/16/2025 (MT Newswires) -- Bakkt Holdings ( BKKT/WS ) said Thursday it plans to eliminate its existing umbrella partnership-C corporation through a reorganization.

If consummated, Bakkt ( BKKT/WS ) will become a subsidiary of a new holding company, which will replace it as the listed public company, and will transition to a single class of common stock.

Following the proposed reorganization, each class A common share of Bakkt ( BKKT/WS ) will be exchanged for one share of the new company. Meanwhile, ownership stakes of Bakkt's ( BKKT/WS ) pre-IPO investors will be collapsed into and shares of class V common stock of Bakkt ( BKKT/WS ) will be replaced with the common stock of the new holding company, Bakkt ( BKKT/WS ) said.

As a result, all Bakkt ( BKKT/WS ) shareholders will hold common stock of the new company, resulting in a unified share class with identical economic and voting rights for all shareholders, the company said.

Bakkt ( BKKT/WS ) said it expects to close the reorganization on or about Nov. 3.