Kraken-linked SPAC targets Nasdaq IPO with $250 million offering

KRAKacquisition Corp, a newly formed special purpose acquisition company sponsored by an affiliate of Kraken, has filed an S-1 registration statement for a proposed initial public offering on the Nasdaq Global Market under the ticker symbol "KRAQU."

The offering will consist of 25,000,000 units, each priced at $10 and comprising one Class A ordinary share and one-fourth of one redeemable warrant, totaling a potential $250 million raise. The company is established for a merger or business combination but has not yet engaged in substantive discussions with any target.

This SPAC's IPO comes as Kraken itself confidentially filed for a U.S. IPO last November at a $20 billion valuation, following significant acquisitions like NinjaTrader for $1.5 billion. KRAKacquisition's offering may serve as a strategic vehicle for Kraken's expansion goals.

(Source：The Block)