Bakkt Results Presentation Deck
APEX CRYPTO ACQUISITION UPDATE
Transaction consideration linked
to financial performance
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●
A
Stock and seller notes consideration of up to $145mm contingent on
achieving certain financial targets
Contingent earnout targets reflect Apex Crypto gross profit¹ increasing YoY
by ~175% in 2023 and ~50% in 2024
We expect to partner to deliver the earnout targets, as achievement of the
targets will result in significant incremental revenue to Bakkt
Underachievement of earnout targets would result in reduced proportionate
amounts of stock issuance, or no stock issuance for delivery less than 25% of
target
Commercial agreement with Apex Fintech Solutions (AFS) aligns interests in
driving revenue growth & achieving financial targets
1 Gross profit is calculated as net operating revenue minus crypto access fees, which primarily represent crypto revenue sharing with B2B clients
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