Kraken-linked SPAC KRAKacquisition Files For $250 Million Nasdaq IPO

TLDR

Table of Contents

KRAKacquisition plans to raise $250M through 25M units at $10 each.
The SPAC is sponsored by a Kraken affiliate and backed by Tribe Capital.
The company aims to target crypto infrastructure firms for merger deals.
Kraken filed confidentially for its own IPO in November at a $20B valuation.

KRAKacquisition Corp, a new SPAC sponsored by a Kraken affiliate, is preparing to raise $250 million through a Nasdaq IPO. The offering includes 25 million units priced at $10 each and marks a strategic move linked to Kraken’s broader expansion in the crypto sector. With no target company yet selected, the SPAC aims to pursue mergers in crypto infrastructure, aligning with Kraken’s recent growth and acquisition activity.

KRAKacquisition Corp Files for $250M IPO

KRAKacquisition Corp, a special purpose acquisition company (SPAC) affiliated with crypto exchange Kraken, has filed an S-1 registration with the U.S. Securities and Exchange Commission for a proposed initial public offering.

The SPAC intends to list its units on the Nasdaq Global Market under the ticker symbol “KRAQU.” The offering includes 25,000,000 units priced at $10 each, aiming to raise $250 million. Each unit will include one Class A ordinary share and one-fourth of one redeemable warrant.

SPAC KRAKacquisition files for a $250 million IPO, backed by Kraken, Tribe Capital, and Natural Capital $KRAQU $IPO #IPO https://t.co/iK0sy2uE4N
— Renaissance Capital (@IPOtweet) January 12, 2026

KRAKacquisition was established with the purpose of combining with one or more businesses, but it has not yet selected a target or held any merger discussions. The company’s public filing confirms no current engagement with any potential business combination.

Backers and Management Structure

KRAKacquisition is sponsored by an affiliate of Kraken and is backed by Tribe Capital and Natural Capital. According to a report by Renaissance Capital, these firms are involved in providing financial and strategic support to the SPAC.

The SPAC is led by Ravi Tanaku, co-founder and general partner of Natural Capital, who serves as CEO and director. Sahil Gupta, a representative of Kraken, joins as the Chief Financial Officer. The management team brings experience in financial markets and crypto technology.

The company stated it is primarily interested in businesses involved in building the infrastructure of the crypto economy. This includes areas such as blockchain-based payment systems and tokenization platforms.

Kraken’s Broader Expansion Strategy

Kraken, one of the largest global crypto exchanges, filed confidentially for its own IPO in the U.S. in November at a $20 billion valuation. While the IPO timeline has not been disclosed, the move shows Kraken’s intention to expand its role in the financial services sector.

In 2025, Kraken acquired several firms to strengthen its ecosystem. This includes the $1.5 billion acquisition of futures trading platform NinjaTrader and a recent deal with Backed Finance, which issues tokenized assets. These acquisitions reflect Kraken’s strategy to grow in both the trading and tokenization segments of the crypto space.

KRAKacquisition’s IPO could complement this expansion by enabling additional mergers or business combinations in the same sector, providing more operational flexibility and financial capacity.

Focus on Crypto Infrastructure Firms

Though the SPAC has not identified a specific target, it stated that it will focus on firms that support the core infrastructure of the crypto economy. This includes blockchain-based platforms, tokenization firms, and digital payment networks.

The company emphasized that no formal or informal talks have taken place with any potential merger candidates. The decision to launch the IPO appears to be a preparatory step to access capital before initiating the search for a suitable business partner.

KRAKacquisition will operate under standard SPAC terms, including the use of redeemable warrants, which offer investors the option to purchase additional shares in the future.