Bakkt Appoints Drew LaBenne as Main Monetary Officer | Enterprise & Finance

LaBenne is an skilled chief who has pushed the transformation of a variety of financial establishments in excess of his 25-calendar year occupation. He was most a short while ago Senior Government Vice President and Main Economical Officer of Amalgamated Financial institution, a mission-pushed, New York-based whole-services professional bank and a chartered trust corporation. He also led the company’s finance function via its preliminary general public providing in 2018.

“Drew is a seasoned executive with above two decades of government management working experience and a solid observe record of results,” stated Gavin Michael, Main Government Officer of Bakkt. “His monetary companies business working experience will be paramount to overseeing Bakkt’s growth initiatives as we greatly enhance our system and construct worth for all our stakeholders. I seem ahead to Drew’s contributions, which will be instrumental as we in the vicinity of our merger shut and become a public company on the New York Inventory Exchange. On behalf of the executive team, I increase a heat welcome to Drew.”

“I am thrilled to join Bakkt at this pivotal time in the company’s journey,” mentioned LaBenne. “I look ahead to doing work with the crew to assistance Bakkt achieve the achievements I consider it is poised to attain, provided its transformative products and solid positioning in the electronic asset marketplace.”

Prior to his function at Amalgamated Financial institution, LaBenne was Handling Director and Main Monetary Officer of JP Morgan Chase’s Small business Banking division. Prior to JP Morgan Chase, LaBenne expended 17 several years at Capital A person Economic in different positions in operations, advertising and marketing and finance. LaBenne was a vital member in constructing Money One’s banking franchise by way of acquisitions and natural and organic growth. He held positions as the CFO of Retail Banking and the CFO of Business Banking.

LaBenne succeeds Doug Hadaway, who will keep on for a period of time of time to ensure a easy changeover.

Michael concluded, “We thank Doug for his leadership and supporting Bakkt expand into the business it is nowadays. We desire him all the very best in his upcoming endeavors.”

Bakkt is a trusted digital asset marketplace that allows establishments and shoppers to acquire, sell, keep and expend electronic property. Bakkt’s retail platform, before long to be made extensively offered by way of the new Bakkt App, will amplify purchaser spending, lessen payment expenses and bolster loyalty courses, introducing benefit for all essential stakeholders in just the payments and electronic assets ecosystem. Released in 2018 by Intercontinental Trade, Inc., Bakkt is headquartered in Atlanta. For a lot more information and facts, visit: https://www.bakkt.com/

Further Facts and The place to Locate It

In relationship with the proposed transaction in between Bakkt and VPC Effects Acquisition Holdings (the “Proposed Transaction”), VPC Influence Acquisition Holdings (“VIH”) intends to file a registration assertion on Form S-4 that will contain a proxy assertion/prospectus of VIH. This document is not a substitute for the proxy assertion/prospectus, that will be equally the proxy statement to be dispersed to holders of VIH’s ordinary shares in connection with its solicitation of proxies for the vote by VIH’s shareholders with regard to the Proposed Transaction and other matters as may possibly be described in the registration assertion, as nicely as the prospectus relating to the provide and sale of the securities to be issued in connection with VIH’s alter in its jurisdiction of incorporation from the Cayman Islands to the Point out of Delaware. This doc does not contain all the information that really should be regarded concerning the Proposed Transaction and is not supposed to type the basis of any financial investment choice or any other final decision in respect of the Proposed Transaction. VIH’s shareholders and other fascinated persons are suggested to study, when available, the preliminary proxy assertion/prospectus provided in the registration statement and the amendments thereto and the definitive proxy assertion/prospectus and other paperwork submitted in link with the Proposed Transaction, as these materials will include important facts about Bakkt, VIH and the Proposed Transaction.

Investors AND Safety HOLDERS AND OTHER Interested Functions ARE URGED TO Study THE PROXY Assertion/PROSPECTUS AND ANY OTHER Appropriate Paperwork THAT ARE Submitted OR WILL BE Filed WITH THE SEC, AS Perfectly AS ANY AMENDMENTS OR Supplements TO THESE Documents, Thoroughly AND IN THEIR ENTIRETY WHEN THEY Turn into Out there For the reason that THEY Include OR WILL Contain Crucial Information ABOUT BAKKT, VIH, THE PROPOSED TRANSACTION AND Connected Issues.

When offered, the definitive proxy assertion/prospectus and other relevant elements for the Proposed Transaction will be mailed to shareholders of VIH as of a document day to be founded for voting on the Proposed Transaction. VIH’s shareholders will also be in a position to receive copies of the preliminary proxy assertion/prospectus, the definitive proxy assertion/prospectus and other paperwork filed with the SEC, devoid of charge, when available, at the SEC’s web page at www.sec.gov. These files (when they are obtainable) can also be received free of charge of cost from VIH upon penned request to VIH by emailing [email protected] or by directing a request to VIH’s secretary at c/o Victory Park Funds Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606.

This conversation is for informational functions only and is not meant to and shall not represent an offer you to provide or the solicitation of an provide to provide or the solicitation of an give to obtain or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which this sort of offer, solicitation or sale would be illegal prior to registration or qualification underneath the securities legislation of any these kinds of jurisdiction. No offer of securities shall be created apart from by usually means of a prospectus meeting the specifications of Section 10 of the Securities Act of 1933, as amended, and normally in accordance with applicable regulation.

Individuals in Solicitation

This conversation is not a solicitation of a proxy from any investor or securityholder. Even so, VIH, Bakkt, Intercontinental Exchange Holdings, Inc. (“ICE”) and sure of their respective directors and government officers may well be deemed to be individuals in the solicitation of proxies from VIH’s shareholders in connection with the Proposed Transaction underneath the policies of the SEC. Information with regards to VIH administrators and government officers may well be uncovered in its registration statement on Form S-1, together with amendments thereto, and other experiences which are filed with the SEC. Additional data with regards to the members will also be involved in the registration assertion on Variety S-4 that involves the preliminary proxy assertion/prospectus, when it gets offered. When accessible, these paperwork can be obtained free of charge of demand from the sources indicated higher than.

Cautionary Statement Pertaining to Forward-Looking Statements

This interaction consists of “forward-hunting statements” within just the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about long term economic and running results, our ideas, goals, expectations and intentions with respect to long term operations, items and companies and other statements discovered by terms this sort of as “will likely outcome,” “are expected to,” “will go on,” “is predicted,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or phrases of comparable this means. These ahead-hunting statements involve, but are not minimal to, statements regarding Bakkt’s market and current market sizes, foreseeable future chances for VIH, Bakkt and the mixed corporation, VIH’s and Bakkt’s estimated future final results and the Proposed Transaction, which include the implied business worth, the predicted transaction and possession framework and the probability and capacity of the get-togethers to successfully consummate the Proposed Transaction. These types of forward-seeking statements are based on the present beliefs and anticipations of our management and are inherently subject matter to major enterprise, economic and competitive uncertainties and contingencies, several of which are difficult to predict and usually outside of our regulate. Genuine outcomes and the timing of gatherings may vary materially from the success predicted in these forward-seeking statements.

In addition to variables beforehand disclosed in VIH’s reviews filed with the SEC and those people identified somewhere else in this interaction, the pursuing elements, among some others, could induce actual effects and the timing of gatherings to vary materially from the predicted results or other expectations expressed in the forward-on the lookout statements: (i) incapacity to meet up with the closing problems to the Proposed Transaction, which includes the prevalence of any celebration, alter or other instances that could give rise to the termination of the definitive agreement (ii) the lack of ability to comprehensive the Proposed Transaction due to the failure to obtain approval of VIH’s shareholders or Bakkt’s associates, the failure to accomplish the minimum amount of money of dollars available pursuing any redemptions by VIH’s shareholders or the failure to meet up with the national inventory exchange’s listing standards in connection with the consummation of the Proposed Transaction (iii) costs similar to the Proposed Transaction (iv) a delay or failure to realize the predicted advantages from the Proposed Transaction (v) hazards connected to disruption of administration time from ongoing company operations thanks to the Proposed Transaction (vi) the influence of the ongoing COVID-19 pandemic (vii) variations in the marketplaces in which Bakkt competes, which include with regard to its competitive landscape, know-how evolution or regulatory improvements (viii) changes in the marketplaces that Bakkt targets (ix) hazard that Bakkt may perhaps not be ready to execute its development procedures, together with determining and executing acquisitions (x) hazards relating to information stability and (xi) threat that Bakkt might not be equipped to create and retain productive inner controls. The foregoing record of factors is not exhaustive. You need to very carefully take into account the foregoing factors and the other pitfalls and uncertainties described in the “Risk Factors” area of VIH’s ultimate prospectus dated September 22, 2020 relating to its first community featuring, the registration assertion on Type S-4 and proxy assertion/prospectus talked about higher than and other paperwork filed by VIH from time to time with the SEC. These filings determine and deal with, or will detect and deal with, other crucial hazards and uncertainties that could trigger actual occasions and outcomes to differ materially from people contained in the ahead-hunting statements.

Precise benefits, performance or achievements might vary materially, and potentially adversely, from any projections and forward-hunting statements and the assumptions on which those people forward-seeking statements are based mostly. There can be no assurance that the information contained herein is reflective of upcoming general performance to any diploma. You are cautioned not to put undue reliance on forward-searching statements as a predictor of upcoming performance as projected money information and facts and other info are based mostly on estimates and assumptions that are inherently topic to a variety of considerable threats, uncertainties and other components, several of which are past our handle. All data set forth herein speaks only as of the day hereof in the situation of information and facts about VIH and Bakkt or the day of such data in the scenario of data from people other than VIH or Bakkt, and we disclaim any intention or obligation to update any forward searching statements as a outcome of developments occurring soon after the day of this communication. Forecasts and estimates concerning Bakkt’s sector and stop marketplaces are based mostly on sources we think to be reputable, even so there can be no assurance these forecasts and estimates will demonstrate precise in entire or in portion. Annualized, pro forma, projected and estimated numbers are employed for illustrative function only, are not forecasts and may not mirror real results.

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PUB: 03/23/2021 04:15 PM/DISC: 03/23/2021 04:15 PM