Kraken's SPAC Files for Nasdaq Listing, Aims to Raise $250 Million

Odaily News: U.S. cryptocurrency exchange Kraken is backing a newly formed special purpose acquisition company (SPAC) that plans to go public through a Kraken-affiliated sponsor.

KrakAcquisition, a newly established blank check company backed by Kraken, Tribe Capital, and Natural Capital, filed documents with the U.S. Securities and Exchange Commission (SEC) on Monday (January 13), seeking to raise up to $250 million through an initial public offering (IPO).

According to the SEC filing, this exempted company, incorporated in the Cayman Islands in July 2025, plans to issue 25 million shares (at $10 per share) and intends to apply for listing on the Nasdaq Global Market under the ticker symbol "KRAQU".

Although the SPAC primarily targets companies in the cryptocurrency infrastructure sector, it was reported that Kraken separately filed a confidential Form S-1 last November, seeking a potential IPO opportunity for its common stock. (Cointelegraph)