Kraken-backed KRAKacquisition Corp completes $345 million upsized IPO, begins Nasdaq trading
The Block
Kraken-linked SPAC KRAKacquisition Corp completed an upsized $345 million IPO and began trading on Nasdaq.Summary
KRAKacquisition Corp, a special purpose acquisition company linked to Kraken, successfully closed an upsized initial public offering totaling $345 million and commenced trading on Nasdaq on Friday. The offering consisted of 34.5 million units priced at $10 each, which included 4.5 million units issued after the underwriter fully exercised its overallotment option, resulting in gross proceeds of $345 million before expenses. The units began trading on the Nasdaq Global Market under the ticker symbol KRAQU, with shares and warrants expected to trade separately as KRAQ and KRAQW. The blank-check company, sponsored by an affiliate of Kraken, Natural Capital, and Tribe Capital, is searching for a merger or acquisition target.
(Source：The Block)