VIH SEC filings, in plain English
Everything VPC Impact Acquisition Holdings has filed with the SEC that we hold — 40 filings, newest first, 8 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Exhibit 10.2 to an 8-K filed under VPC Impact Acquisition Holdings' CIK by Bakkt, Inc.: an employment agreement dated August 11, 2026 with Matthew White as Chief Financial Officer, effective August 17, 2026, primary work site Atlanta, Georgia. Initial base salary is $300,000 per year with a discretionary annual bonus that is earned only on Committee certification and requires active employment on the payment date. Why it matters: The document fixes the CFO's cash and equity terms, including a stated $10.00 option strike and the inducement-grant route that places the shares outside the 2021 Plan's share reserve. The 8-K's own item text is not part of this exhibit.
What changed: Bakkt filed its 10-Q for Q2 2026, reporting $49.98M cash and cash equivalents as of June 30, 2026, up from $26.96M at year-end 2025. The company completed the acquisition of Distributed Technologies Research Global Ltd. (DTR) on April 30, 2026 for ~$105.7M in total consideration (including ~$97.6M in stock), and acquired Gyzer Inc. on May 7, 2026 for ~$1.4M. Bakkt also holds Transchem Warrants valued at $107.9M as of June 30, 2026, generating a $98.5M unrealized gain in the first half of 2026. Why it matters: The DTR acquisition significantly expanded Bakkt's goodwill to $156.7M and increased shares outstanding from 25.5M to 45.1M, materially diluting existing shareholders. Despite a net income of $80.8M in Q2 2026 (largely driven by Transchem Warrant fair value gains), the company still reported an operating loss of $19.6M and an accumulated deficit of $836M, with management citing significant uncertainty around revenue growth projections in the digital asset space.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause “S. GAAP, management evaluates whether there are conditions or events that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the financial statements are issued. In accordance”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Exhibit 99.1 to an 8-K of Bakkt, Inc. (NYSE: BKKT): the August 10, 2026 press release reporting Q2 2026 results. The company reported GAAP net income of $80.8 million, or $1.96 per basic and $1.94 per diluted share, and Total Transacting Volume of $168.8 million in the quarter, bringing first-half TTV to $410.0 million, with six commercial offerings live across Bakkt Markets. Cash, equivalents and restricted cash were $50.7 million at June 30, 2026 with no long-term debt. Why it matters: The company reports $80.8 million of net income in a quarter in which a warrant position bought for about $9.4 million is carried at $107.9 million with fair-value changes running through earnings; the release states both figures without attributing the income to any single item. Exercising the warrants in full would require roughly $28.2 million more cash against $50.7 million on hand.
What changed: Distributed Technologies Research Global Ltd (DTR Global), a target entity, filed its first audited consolidated financial statements for the year ended 31 December 2025, reporting a net loss of EUR 8,435,181 and total equity of EUR 3,397,943. The filing also discloses that subsequent to the reporting date, DTR Global was acquired by Bakkt Holdings, Inc. Why it matters: This filing provides the first full financial picture of DTR Global, revealing significant accumulated losses (EUR 8.5M) and related-party dependencies, which are critical for assessing the valuation Bakkt paid. The post-balance-sheet acquisition by Bakkt confirms the deal closed, making these historical financials the baseline for Bakkt's consolidated results going forward.
What changed: Amendment to VPC Impact Acquisition Holdings' Form 8-K supplying the Item 9.01 financial statements of the acquired business. It explains that the February 13, 2026 definitive proxy statement had included, for information only, combined unaudited FY2025 figures for Distributed Technologies Research Global Ltd. and its subsidiaries together with UAB Unblock, even though Unblock was not part of the DTR Group during FY2025. This report instead provides the audited consolidated FY2025 statements of the DTR Group alone; Unblock's operations moved into the DTR Group effective January 1, 2026. Why it matters: The audited figures cover a narrower business than the ones shareholders saw when they voted: the proxy showed DTR combined with Unblock, while the audited statements exclude Unblock entirely because it was not a consolidated subsidiary in FY2025. Anyone who sized the target from the proxy is looking at a different perimeter from the audited accounts, and the two are not comparable without adjusting for Unblock, which only joined the group from January 1, 2026.
What changed: Bakkt, Inc. filed an amendment to the definitive proxy statement it filed on April 30, 2026 for its annual meeting of stockholders to be held June 23, 2026. It makes four changes: revising the biography of director nominee Lyn Alden; clarifying and administrative revisions to the Corporate Governance disclosure on attendance at board and stockholder meetings; correcting footnote disclosures in the table of outstanding equity awards held by non-employee directors as of December 31, 2025; and replacing the form of proxy card included in the proxy statement. Why it matters: Replacing the proxy card is the operative change — a holder voting on the superseded card is using a document the company has withdrawn. The restated attendance disclosure states the board held 15 meetings in fiscal 2025 and that each director attended at least 75% of the board and applicable committee meetings held while serving. The corrected table shows outstanding stock awards of 30,191 shares for Sean Collins, 16,543 for Colleen Brown, 28,476 for Michael Alfred, 4,809 for Lyn Alden and 6,654 for Richard Galvin. An earlier amendment was filed May 15, 2026.
What changed: Bakkt, Inc. filed an amendment to the definitive proxy statement filed April 30, 2026 for its annual meeting of stockholders to be held June 23, 2026. It does three things: corrects the number of shares of Class A common stock outstanding at the record date, restating it as 30,761,371 shares; replaces the disclosures under Outstanding Equity Awards at Fiscal 2025 Year-End and under Equity Compensation Plan Information — Pay Versus Performance for the fiscal year ended December 31, 2025; and replaces the form of proxy card included in the proxy statement. Why it matters: The share count at the record date is the denominator for quorum and for every vote threshold at the meeting, and the proxy statement had it wrong. Replacing the proxy card means a holder using the superseded card is voting on a document the company has withdrawn. This is the first of at least two amendments to the same proxy statement: a further one followed as accession 0001193125-26-249235, revising a director nominee's biography, the board-attendance disclosure and director equity-award footnotes, and replacing the card again.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause “S. GAAP, management evaluates whether there are conditions or events that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date the financial statements are issued. In accordance”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Bakkt, Inc. (successor to SPAC VPC Impact Acquisition Holdings) called its annual meeting for Tuesday, June 23, 2026, with the board fixing April 24, 2026 as the record date. The proxy discloses continuing committee turnover: Sean Collins ceased serving on the compensation committee effective April 10, 2025, Jill Simeone resigned from the board on November 7, 2025 and left the committee then, and Michael Alfred joined effective September 17, 2025. The Form 10-K for the year ended December 31, 2025 was filed March 19, 2026. Why it matters: Ordinary annual governance for a completed de-SPAC; the VPC Impact trust and redemption rights ended at the 2021 combination. The relevant pattern for holders is compensation committee instability, with three separate membership changes across 2025, at a company whose executive ranks have also turned over repeatedly, as the pay-versus-performance tables covering multiple principal executive officers across 2024 and 2025 indicate. Frequent committee reconstitution weakens continuity in setting pay against performance.
In plain English
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