On January 13, US cryptocurrency exchange Kraken is supporting a newly formed special purpose acquisition company (SPAC) that plans to go public through an sponsor associated with Kraken.
KrakAcquisition, a newly established blank check company backed by Kraken, Tribe Capital, and Natural Capital, filed documents with the U.S. Securities and Exchange Commission (SEC) on Monday (January 13) to raise up to $250 million through an initial public offering (IPO).
According to SEC filings, the exempted company, registered in the Cayman Islands in July 2025, plans to issue 25 million shares at $10 each and intends to apply for listing on the Nasdaq Global Market under the ticker symbol "KRAQU".
Although the SPAC is primarily aimed at companies in the cryptocurrency infrastructure sector, Kraken reportedly filed a separate confidential S-1 form last November seeking a potential IPO listing opportunity for its common stock.
