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      "text": "12. Bakkt relies on third parties... 21. The unaudited pro forma financial information... may not be representative of the Company’s results if the Business Combination is completed.",
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      "text": "1. Bakkt’s business model is newly developed... 11. Bakkt relies on ICE in several aspects of its business, which creates additional risk.",
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      "text": "APPENDIX: RISK FACTORS SUMMARY",
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