Bakkt (BKKT) Holdings announced it has redeemed its outstanding 0.00% convertible debenture due June 18, 2026, eliminating all remaining long-term debt. Following this redemption, all obligations under the debenture, originally issued in June 2024, have been satisfied in full. Bakkt now has no outstanding long-term debt obligations, “further strengthening the company’s financial position and providing balance sheet flexibility,” the company stated. “Retiring the debenture eliminates a major overhang while further simplifying our capital structure. With a clean balance sheet and full flexibility, we can sharpen our focus on executing our strategy and delivering long-term value as a leading crypto infrastructure platform,” added Akshay Naheta, CEO of Bakkt.
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