KRAKacquisition Corp., a special purpose acquisition company (SPAC) backed by affiliates of the Kraken cryptocurrency exchange, Natural Capital, and Tribe Capital, has successfully launched on the Nasdaq Global Market. The company completed an upsized initial public offering, raising $345 million by selling 34.5 million units at $10 each. The units began trading on January 28, 2026, under the ticker symbol KRAQU.
The offering was increased from its initial size due to strong investor demand, which led the underwriter, Santander US Capital Markets, to fully exercise its over-allotment option for an additional 4.5 million units. Each unit consists of one Class A ordinary share and one-fourth of a redeemable warrant, with each full warrant entitling the holder to purchase one share at $11.50. Once separated, the shares and warrants will trade independently under the symbols KRAQ and KRAQW, respectively.
The SPAC, which has not yet begun substantive talks with any target company, stated its purpose is to identify and merge with a high-growth potential business. While its sponsorship by a Kraken affiliate suggests a focus on the digital asset ecosystem, the search is broad and could encompass sectors like blockchain infrastructure, fintech, or digital asset security. The company has a typical SPAC timeline of 18 to 24 months to complete a business combination.
The registration statement for the offering became effective on January 27, 2026, ensuring regulatory compliance with the SEC. The successful debut is seen as a significant bridge between cryptocurrency-native firms and traditional public capital markets, providing a regulated vehicle for institutional investment into the growing digital asset sector.
