The Kraken-backed SPAC aims to raise $250 million in an IPO, targeting companies building infrastructure and services for the digital asset ecosystem.
Major US cryptocurrency exchange Kraken is backing a new special purpose acquisition company (SPAC) that plans to go public through a Kraken-affiliated sponsor.
KrakAcquisition, a new blank check company backed by Kraken, Tribe Capital and Natural Capital, on Monday filed with the Securities and Exchange Commission (SEC) to raise up to $250 million in an initial public offering (IPO).
Incorporated in July 2025 as a Cayman Islands exempted company, KrakAcquisition plans to offer 25 million units at $10 each and expects to apply to list the units on the Nasdaq Global Market under the ticker symbol “KRAQU,” according to the SEC filing.
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