Bakkt I (BKKT) Proxy Filing summary

Executive summary

• Announced acquisition of Distributed Technologies Research (DTR), a stablecoin payment infrastructure company, in an all-stock deal.

• Approximately 9.1 million common shares will be issued to DTR holders, representing 31.5% of outstanding shares at closing.

• DTR's platform enables stablecoin payments and conversions across 40 countries, integrating national payment systems and blockchains.

• The acquisition aims to position the company as a leader in cross-border stablecoin payments and settlement infrastructure.

Voting matters and shareholder proposals

• Shareholders will be asked to approve the issuance of new shares as consideration for the acquisition.

• A proxy statement will be filed and mailed to stockholders with details on the proposed transaction and voting instructions.

Board of directors and corporate governance

• Akshay Naheta, CEO and board member, is also the founder of DTR and a principal in the transaction.

• Certain directors, executive officers, and employees may be considered participants in the proxy solicitation.