According to a report by Golden Finance, a document released by Bitcoin Magazine shows that Bakkt, a publicly traded company focused on the digital asset sector, has updated its investment policy and announced a $1 billion securities issuance plan aimed at incorporating digital assets into the company's treasury.
The document screenshot shows that to support this new strategy and provide funding flexibility for potential digital asset acquisitions, Bakkt has submitted a hybrid securities issuance plan of up to $1 billion. This plan covers various types of securities, including Class A common stock, preferred stock, debt securities, warrants, and units. The company stated that it may use the proceeds from the issuance, excess cash, or existing capital sources to acquire digital assets in the future, but must comply with the restrictions in the investment policy.
In addition, Bakkt also plans to explore other opportunistic financing options, including the issuance of convertible notes, bonds, or other debt instruments, to be used for purchasing digital assets or in accordance with its investment policy.