Bakkt Holdings, a digital asset marketplace launched in 2018 by Intercontinental Exchange (ICE) and a group of investors, will become a publicly traded company through a merger with VPC Impact Acquisition Holdings (VIH), a special purpose acquisition company sponsored by Victory Park Capital.The business combination between Bakkt and VIH values the combined company at an enterprise value of ~$2.1B.The transaction is expected to result in more than $500M of cash on the new company's balance sheet, reflecting a contribution of up to $207M of cash held in VPC Impact Acquisition Holdings' trust account and a $325M concurrent private investment in public equity of class A common stock of the combined company, priced at $10.00 per share, including a $50M commitment from ICE.The newly combined company will be renamed Bakkt Holdings Inc. and will be listed on the New York Stock Exchange.As part of the transaction, Bakkt’s existing equity holders and
