Cryptocurrency exchange Bakkt, which is majority-owned by Intercontinental Exchange (ICE), is in advanced talks to go public via a merger with a special purpose acquisition company (SPAC), Bloomberg reported, citing people with knowledge of the matter.
- The deal, if it's concluded, would value the combined company at more than $2 billion, the report said. A deal could be announced as soon as next week.
- The SPAC that would merge with Bakkt, VPC Impact Acquisition Holdings, is affiliated with Victory Park Capital.
- Officials from each company declined to comment, Bloomberg said.
- U.S. Sen. Kelly Loeffler, one of the two losers of Georgia's special runoff election earlier this week, was Bakkt's founding CEO.