Filed by VPC Impact Acquisition Holdings
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
of the Securities Exchange Act of 1934
Subject Company: VPC Impact Acquisition Holdings
Commission File No. 001-39544
Date: October 14, 2021
VPC
Impact Acquisition Holdings Expects to Close Combination with Bakkt Holdings, LLC on October 15, 2021 and Generate Gross Proceeds of More Than $447 Million
VIH Expects All Conditions to Be Met to Complete Business Combination
CHICAGO, IL October 13, 2021 VPC Impact Acquisition Holdings (VIH) (Nasdaq: VIHAU, VIH and VIHAW), a special purpose
acquisition company sponsored by Victory Park Capital (VPC), today announced that it expects all conditions to be met, including minimum cash proceeds, to complete its previously announced business combination with Bakkt Holdings, LLC
(Bakkt), the digital asset marketplace founded in 2018.
Based on the number of public shares submitted for redemption as of 5 p.m. ET on
October 12, 2021, the business expects to receive more than $447 million of gross proceeds, including an expected $325 million in committed funding from a PIPE financing, plus approximately $122 million from the VIH trust
account, which represents approximately 60% of the cash available in the trust.
Assuming that VIH receives shareholder approval at its Extraordinary
General Meeting of Shareholders scheduled for October 14, 2021, VIH expects to close the transaction on October 15, 2021. The formal results of the vote will be included in a Current Report on Form
8-K to be filed by VIH with the Securities and Exchange Commission (the SEC).
Upon closing, the
combined companys Class A common stock and redeemable warrants are expected to begin trading on the New York Stock Exchange (the NYSE) under the ticker symbols BKKT and BKKT WS, respectively, starting
Monday, October 18, 2021.
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About VPC Impact Acquisition Holdings
VPC Impact
Acquisition Holdings sponsor is an affiliate of Victory Park Capital, a global investment firm with a long track record of executing debt and equity financing transactions with some of the largest global Fintech companies. The firm was founded
in 2007 and is headquartered in Chicago with additional resources in New York, Los Angeles and Austin. Victory Park Capital is privately held and a Registered Investment Advisor with the SEC.
About Bakkt
Bakkt is a trusted digital asset
marketplace that enables consumers to buy, sell, store and spend digital assets. Bakkts retail platform, now available through the recently-released Bakkt App and to partners through the Bakkt platform, amplifies consumer spending and bolsters
loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018 by Intercontinental Exchange, Inc., Bakkt is headquartered in Alpharetta, GA. For more information,
visit: https://www.bakkt.com/.