Kraken SPAC listing rushes to NASDAQ: $250 million financing + multiple acquisitions accelerate expansion

【Crypto World】Kraken’s special purpose acquisition company (SPAC) KRAKacquisition Corp has filed an S-1 registration statement with the U.S. Securities and Exchange Commission, aiming to list on the Nasdaq Global Market.

In terms of fundraising, the company plans to issue 25 million units, with a unit price of $10. Each unit includes one Class A common stock and one-quarter of a redeemable warrant, targeting a total raise of $250 million. The future stock ticker will be “KRAQU.”

KRAKacquisition was established as a blank check company primarily to seek or merge with one or more operating businesses. Although specific merger targets have not yet been finalized, this IPO plan creates a certain synergy with Kraken’s own listing strategy. In November last year, Kraken had already submitted an S-1 draft to the SEC, with an estimated valuation of up to $20 billion at that time.

Notably, Kraken has been active in acquisitions this year, completing four deals, including a $1.5 billion acquisition of the U.S. futures trading platform NinjaTrader and the acquisition of tokenized asset issuer Backed Finance. This series of expansion initiatives demonstrates Kraken’s ambition to strengthen its core competitiveness and expand into derivatives and tokenization fields.