KRAKacquisition Corp, a special purpose acquisition company (SPAC) affiliated with crypto exchange Kraken has filed an S-1 registration with the U.S. Securities and Exchange Commission for a proposed Nasdaq IPO. The offering seeks to raise $250 million and is designed to fund mergers with businesses operating in the crypto ecosystem.
The SPAC plans to issue 25 million units at $10 per unit, wit each unit comprising one Class A share and one-quarter of a redeemable warrant. KRAKacquisition intends to trade under the ticker symbol KRAQU on the Nasdaq Global Market. The filing notes that no specific acquisition target has yet been selected, and no substantive discussions have occurred with potential merger candidates.
KRAKacquisition is sponsored by a Kraken affiliate and supported by investment firms Tribe Capital and Natural Capital. Ravi Tanaku, co-founder of Natural Capital, serves as CEO and director, while Kraken’s Sahil Gupta joins as CFO. The SPAC is targeting companies developing payment networks, tokenization platforms, and other core crypto infrastructure.
The IPO complements Kraken’s broader U.S. expansion, following its confidential S-1 filing last November valuing the exchange at $20 billion and acquisitions including tokenized asset issuer Backed Finance and NinjaTrader for $1.5 billion. Analysts view KRAKacquisition as a strategic vehicle to accelerate Kraken’s ecosystem growth while providing public market access for crypto infrastructure investments.By leveraging the SPAC, Kraken aims to build a comprehensive multi-asset financial platform, positioning the company to support the evolving crypto economy and expand its footprint in digital finance.
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