Baked Holdings (BKKT), a crypto exchange and custody company, saw its shares jumped on Monday after revealing that neither Bank of America (BAC) nor Crypto Trading App Webull Pay would renew their commercial agreements with the company.

At the time of writing, BKKT shares have dropped 35% after hours of trade to $ 12.83. The stock did its all time high in October 2021 when it was traded for $ 1,063 shortly after the company became public through its merger with VPC Impact Acquisition Holdings.

Bank of America accounted for approx. 16% of Bakt’s loyalty service income in 2023. Webull, meanwhile, represented 74% of Bakt’s Crypto service revenue over the same period. The agreement with Bank of America is scheduled to expire on April 22, while the webull contract ends on June 14.

Baked has requested an extension of the time to submit its annual report from 2024 to SEC.