Kraken-backed KRAKacquisition Corp has accomplished an upsized $345 million preliminary public providing, itemizing its particular objective acquisition firm models on Nasdaq to pursue future mergers or acquisitions.
In keeping with a Friday announcement, the particular objective acquisition firm (SPAC) bought 34.5 million models at $10 every, together with the complete train of the underwriter’s over-allotment choice. Every unit consists of 1 Class A bizarre share and one-quarter of a redeemable warrant exercisable at $11.50 per share.
The models started buying and selling on the Nasdaq World Market beneath the ticker image KRAQU on Wednesday.
KRAKacquisition was shaped as a SPAC, also referred to as a blank-check firm, which is a publicly listed entity with no working enterprise that raises capital by an preliminary public providing (IPO) to pursue a future merger or acquisition.
The corporate stated it has not recognized a enterprise mixture goal or engaged in discussions with any potential acquisition candidates, though its preliminary SEC submitting stated it can focus efforts on “firms within the digital asset ecosystem.”
The providing follows a Jan. 12 submitting by which Kraken disclosed plans to again KRAKacquisition Corp alongside Tribe Capital and Pure Capital.
Based in 2011, Kraken is likely one of the longest-operating US-based crypto exchanges. In November, the corporate stated it had confidentially submitted a draft registration assertion to the SEC, signaling early preparations for a possible IPO.
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Subsequent wave of crypto IPO candidates emerges
Following a wave of crypto listings in 2025, a number of digital asset firms are actually laying the groundwork for potential public choices this 12 months.
Crypto {hardware} pockets supplier Ledger is reportedly exploring a US preliminary public providing that would worth the corporate at greater than $4 billion. The French firm is claimed to be in discussions with Goldman Sachs, Jefferies and Barclays relating to a possible itemizing.
On Thursday, digital asset custodian Copper was reported to be exploring a possible IPO, following the latest New York Inventory Alternate debut of rival BitGo. Copper is assessing itemizing choices with banks together with Deutsche Financial institution, Goldman Sachs and Citigroup.
Tokenization platform Securitize disclosed a leap in income because it strikes ahead with plans to go public by way of a Cantor Fitzgerald–backed clean examine firm. In a registration assertion filed with the SEC, Securitize stated income reached $55.6 million for the 9 months ended September 2025, up 841% from a 12 months earlier.
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