TechFlow news, January 13 — According to The Block, Kraken's affiliated special purpose acquisition company (SPAC), KRAKacquisition Corp., has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC), planning an initial public offering (IPO) on the Nasdaq Global Market.
The company intends to issue 25 million units at $10 per unit, with each unit consisting of one share of Class A common stock and one-quarter of a redeemable warrant, aiming to raise up to $250 million. The company’s stock ticker will be "KRAQU".
KRAKacquisition was formed as a blank-check company with the purpose of entering into a merger or business combination with one or more operating businesses. While no specific business combination target has been identified yet, this IPO plan coincides with Kraken's own listing ambitions. In November last year, Kraken submitted a draft S-1 registration statement to the SEC at a $20 billion valuation.
In 2025, Kraken has acquired four companies, including the U.S. futures trading platform NinjaTrader for $1.5 billion, and finalized the acquisition of tokenized asset issuer Backed Finance.
