Kraken-Backed SPAC Closes $345M Nasdaq IPO

Kraken-backed KRAKacquisition Corp has accomplished an upsized $345 million preliminary public providing, itemizing its particular function acquisition firm models on Nasdaq to pursue future mergers or acquisitions.

In response to a Friday announcement, the particular function acquisition firm (SPAC) offered 34.5 million models at $10 every, together with the complete train of the underwriter’s over-allotment choice. Every unit consists of 1 Class A odd share and one-quarter of a redeemable warrant exercisable at $11.50 per share.

The models started buying and selling on the Nasdaq World Market beneath the ticker image KRAQU on Wednesday.

KRAKacquisition was shaped as a SPAC, also called a blank-check firm, which is a publicly listed entity with no working enterprise that raises capital via an preliminary public providing (IPO) to pursue a future merger or acquisition.

The corporate stated it has not recognized a enterprise mixture goal or engaged in discussions with any potential acquisition candidates, though its preliminary SEC submitting stated it should concentrate efforts on “corporations within the digital asset ecosystem.”

The providing follows a Jan. 12 filing by which Kraken disclosed plans to again KRAKacquisition Corp alongside Tribe Capital and Pure Capital.

Based in 2011, Kraken is among the longest-operating US-based crypto exchanges. In November, the corporate stated it had confidentially submitted a draft registration statement to the SEC, signaling early preparations for a possible IPO.

Associated: ‘Mixed year for IPOs’ as crypto pulls down US IPO performance

Subsequent wave of crypto IPO candidates emerges

Following a wave of crypto listings in 2025, a number of digital asset corporations are actually laying the groundwork for potential public choices this yr.

Crypto {hardware} pockets supplier Ledger is reportedly exploring a US initial public offering that would worth the corporate at greater than $4 billion. The French firm is claimed to be in discussions with Goldman Sachs, Jefferies and Barclays relating to a possible itemizing.

On Thursday, digital asset custodian Copper was reported to be exploring a potential IPO, following the latest New York Inventory Trade debut of rival BitGo. Copper is assessing itemizing choices with banks together with Deutsche Financial institution, Goldman Sachs and Citigroup.

Tokenization platform Securitize disclosed a jump in revenue because it strikes ahead with plans to go public through a Cantor Fitzgerald–backed clean verify firm. In a registration assertion filed with the SEC, Securitize stated income reached $55.6 million for the 9 months ended September 2025, up 841% from a yr earlier.

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