Kraken-Linked SPAC Eyes $250 Million US Public Offering
KRAKacquisition Corp., a Cayman Islands-based SPAC sponsored by an affiliate of crypto exchange Kraken, filed for a $250 million initial public offering with the SEC. The offer consists of 25 million units at $10 each, with each unit including one Class A share and a fraction of a warrant to purchase more shares. Shares aim to be listed on Nasdaq under the ticker “KRAQU,” later separating as “KRAQ” for shares and “KRAQW” for warrants. The company has not chosen a merger target but is open to any industry. The sponsor is partnered with Kraken, Tribe Capital, and Natural Capital, with Santander serving as sole book-running manager. Regulatory developments in the U.S. have enabled a wave of crypto firms, such as Circle and Gemini, to go public. KRAKacquisition’s investment rationale highlights inflation hedging and Bitcoin as a decentralized store of value. The affiliation with Kraken emphasizes industry connections, regulatory insight, and risk management experience.
