"If we cannot continue as a viable entity, our stockholders will likely lose most or all of their investment in us," the company said.
In March, Bakkt revealed that the New York Stock Exchange had warned the company that it was at risk of being delisted because its common stock was trading at an average below the exchange's $1 per share minimum for at least 30 consecutive trading days.
In April, Bakkt carried out a reverse stock split at a 1-for-25 ratio.