Catenaa, Thursday, February 05, 2026- KRAKacquisition Corp, a special purpose acquisition company linked to Kraken, completed an upsized $345 million initial public offering and began trading on Nasdaq Friday.
The offering initially targeted $250 million but expanded to 34.5 million units priced at $10 each after the underwriter exercised the overallotment option.
Gross proceeds totaled $345 million before fees. Each unit includes one Class A ordinary share and one-quarter of a redeemable warrant, exercisable at $11.50 per share.
Once separated, shares and warrants will trade under the tickers KRAQ and KRAQW, respectively.
Santander US Capital Markets acted as sole underwriter.
The blank-check company, sponsored by an affiliate of Kraken along with Natural Capital and Tribe Capital, plans to pursue a future merger or acquisition but has not identified a specific target or engaged in substantive discussions with potential counterparties.
KRAKacquisition’s IPO comes as crypto-linked firms continue to explore public market access amid evolving U.S. regulatory and capital market conditions. The Nasdaq debut marks the first trading day for the units under the symbol KRAQU on the Nasdaq Global Markets.
