Bakkt Appoints PwC as New Auditor
Ticker: BKKT-WT · Form: 8-K · Filed: Jun 7, 2024 · CIK: 1820302
| Field | Detail |
|---|---|
| Company | Bakkt Holdings, Inc. (BKKT-WT) |
| Form Type | 8-K |
| Filed Date | Jun 7, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
Bakkt swapped auditors from Deloitte to PwC, no drama reported.
AI Summary
Bakkt Holdings, Inc. announced on June 3, 2024, that it has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm. This change follows the resignation of its former auditor, Deloitte & Touche LLP, effective May 29, 2024. The company stated there were no disagreements with Deloitte & Touche LLP.
Why It Matters
A change in auditor can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor.
Risk Assessment
Risk Level: low — This filing concerns a routine change of auditor and does not involve financial performance or strategic shifts.
Key Players & Entities
- Bakkt Holdings, Inc. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — New independent registered public accounting firm
- Deloitte & Touche LLP (company) — Former independent registered public accounting firm
- May 29, 2024 (date) — Effective date of former auditor's resignation
- June 3, 2024 (date) — Date of the report
FAQ
Who is Bakkt Holdings, Inc.'s new independent registered public accounting firm?
Bakkt Holdings, Inc. has appointed PricewaterhouseCoopers LLP as its new independent registered public accounting firm.
When did Bakkt Holdings, Inc.'s former auditor resign?
Bakkt Holdings, Inc.'s former auditor, Deloitte & Touche LLP, resigned effective May 29, 2024.
Were there any disagreements between Bakkt Holdings, Inc. and its former auditor?
The filing states that there were no disagreements between Bakkt Holdings, Inc. and Deloitte & Touche LLP.
What is the effective date of the change in auditor?
The change in auditor is effective as of June 3, 2024, the date of the report.
What is the former company name of Bakkt Holdings, Inc.?
The former company name of Bakkt Holdings, Inc. was VPC Impact Acquisition Holdings, with a date of name change on August 5, 2020.
Filing Stats: 1,033 words · 4 min read · ~3 pages · Grade level 15 · Accepted 2024-06-07 16:24:42
Key Financial Figures
- $0.0001 — tered Class A Common Stock, par value $0.0001 per share BKKT The New York Stock Exc
Filing Documents
- bakkt-20240603.htm (8-K) — 38KB
- drafteyletterv5.htm (EX-16.1) — 2KB
- 0001820302-24-000103.txt ( ) — 209KB
- bakkt-20240603.xsd (EX-101.SCH) — 2KB
- bakkt-20240603_def.xml (EX-101.DEF) — 16KB
- bakkt-20240603_lab.xml (EX-101.LAB) — 28KB
- bakkt-20240603_pre.xml (EX-101.PRE) — 17KB
- bakkt-20240603_htm.xml (XML) — 4KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. (a) Dismissal of Previous Independent Registered Public Accounting Firm. As previously disclosed in our Definitive Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission (the "SEC") on April 19, 2024, the Audit and Risk Committee (the "Audit Committee") of the Board of Directors of Bakkt Holdings, Inc. (the "Company") recently solicited proposals from several accounting firms to serve as the Company's registered independent accounting firm for the year ending December 31, 2024. As a result of this process, on June 3, 2024, the Audit Committee dismissed Ernst & Young LLP ("EY") as the Company's independent registered public accounting firm, effective immediately. The reports of EY on the Company's consolidated financial statements for the fiscal years ended December 31, 2023 and 2022 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, or other similar opinion as defined in Item 304(a)(i)(ii) of Regulation S-K. In connection with the audit of the Company's consolidated financial statements for the fiscal years ended December 31, 2023 and 2022, respectively, and in the subsequent interim period through June 3, 2024 (the "Interim Period"), there were no disagreements (as that term is defined in Item 304(a)(1)(iv) of Regulation S-K) with EY on any matter of accounting principles or practices, financial statement disclosure or auditing scope and procedures which, if not resolved to the satisfaction of EY, would have caused EY to make reference to the matter in their report for such years or subsequent interim period. Except for the disclosure of the material weakness of the Company's internal control over financial reporting as disclosed in Part I, Item 4 of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 (the "First Quarter 2024 10-Q"), there were n
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 16.1 Letter from Ernst & Young LLP to the SEC dated June 7, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: June 7, 2024 BAKKT HOLDINGS, INC. By: /s/ Marc D'Annunzio Name: Marc D'Annunzio Title: General Counsel and Secretary