Kraken-backed SPAC KRAKacquisition Corp. has filed for a $250 million initial public offering.
The move represents another effort by the crypto exchange to grow its presence in public markets through a blank-check company targeting digital asset businesses
Kraken-Affiliated SPAC Targets Crypto Industry Deals
KRAKacquisition Corp., a special purpose acquisition company backed by an affiliate of Kraken, plans to list on the Nasdaq Global Market under the ticker symbol “KRAQU.”
The company is registered in the Cayman Islands and intends to raise $250 million by offering 25 million units priced at $10 each.
Each unit will consist of one Class A ordinary share and a portion of a warrant that can be used to purchase additional shares at a later date.
Santander, the Spanish banking group, is listed as the sole book-running manager for the offering, according to the filing.
The Kraken-affiliated SPAC has not yet named a merger target. However, it said its focus will be on comp
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