The publicly listed company Bakkt plans to raise approximately $75 million through an initial public offering to invest in Bitcoin and other digital assets

according to Businesswire, the publicly traded company Bakkt Holdings (BKKT) announced that it will issue Class A common stock and pre-funded warrants to purchase up to 746,373 shares of Class A common stock, with total fundraising expected to be approximately $75 million.

Bakkt intends to use the net proceeds from this offering to purchase Bitcoin and other digital assets in accordance with its investment policy, for working capital, and for general corporate purposes.