{
  "docId": "019de514-81b5-74eb-8e64-6d136dba7fa3",
  "docSlug": "a841b7c0f329decdf4fc5824633ff5c1",
  "documentTitle": "Bakkt | Mergers and Acquisitions Presentation Deck | 13 slides",
  "authorId": "bakkt",
  "authorName": "Bakkt",
  "documentKindSlug": "deck",
  "documentKindLabel": "Deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2022-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 12,
  "pageCount": 13,
  "prevPage": 11,
  "nextPage": 13,
  "slideType": "other",
  "function": "establish_context",
  "density": "overcrowded",
  "nDataPoints": 3,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 0.9,
  "imagePath": null,
  "slideHref": "/slides/019de514-81b5-74eb-8e64-6d136dba7fa3/12",
  "deckHref": "/decks/019de514-81b5-74eb-8e64-6d136dba7fa3",
  "deckJsonHref": "/decks/019de514-81b5-74eb-8e64-6d136dba7fa3.json",
  "deckAnchorHref": "/decks/019de514-81b5-74eb-8e64-6d136dba7fa3#slide-12",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.488,
        "x": 0.357,
        "y": 0.62
      },
      "kind": "list",
      "text": "Proposed transaction is expected to be accretive to revenue growth rate and provide synergies and cost savings",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9922dea5-cc06-42ab-b735-0ccbfef52df3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.263,
        "w": 0.488,
        "x": 0.357,
        "y": 0.273
      },
      "kind": "list",
      "text": "Initial payment of $55mm in cash at the closing of the deal and up to $45mm in Bakkt stock depending on the achievement of financial targets by the acquired business in the fourth quarter of 2022\nUp to an additional $100mm in Bakkt stock and seller notes may be paid depending on the achievement of financial targets by the acquired business through 2025",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ab85905d-2d8e-4724-855a-135d5e3717b7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.488,
        "x": 0.357,
        "y": 0.775
      },
      "kind": "list",
      "text": "Targeted close by 1H 2023, subject to conditions set forth in the purchase agreement including regulatory approvals",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bab62781-2ce3-470c-a4c3-d4eda928be45",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.046,
        "w": 0.163,
        "x": 0.152,
        "y": 0.62
      },
      "kind": "paragraph",
      "text": "Expected financial impact",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "28f6e738-0dde-4736-81be-945f4e448149",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.023,
        "w": 0.163,
        "x": 0.152,
        "y": 0.775
      },
      "kind": "paragraph",
      "text": "Expected timing",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3a76d88f-a150-4ba7-bf40-f7431f190873",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.046,
        "w": 0.163,
        "x": 0.152,
        "y": 0.273
      },
      "kind": "paragraph",
      "text": "Financial consideration",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "80480784-bbc4-4a4d-b7b8-da327f5c51d3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.016,
        "w": 0.018,
        "x": 0.953,
        "y": 0.913
      },
      "kind": "source-note",
      "text": "12",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d4ad2dfd-336e-4340-9d8d-2384ddc1f1ee",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.067,
        "w": 0.45,
        "x": 0.066,
        "y": 0.093
      },
      "kind": "title",
      "text": "Transaction overview",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e0ff1681-d2ef-415b-b68a-bd84edbe3ef8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 12,
      "from": 10,
      "beatId": "adefee1e-a2a5-4fd2-aaf3-e2bd6913623d",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Business Model",
      "beatSlug": "sequoia-pitch-business-model",
      "evidence": "Slides 10-12 present the commercial agreement and transaction overview",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 13,
      "from": 3,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "7ad0d3b4-f5f4-4ef7-85ae-e9cfc84fe40e",
      "evidence": "The deck implies that not acquiring Apex Crypto would hinder Bakkt's growth and strategy execution",
      "position": 0,
      "objective": "The cost of not acquiring Apex Crypto",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}