According to The Block, KRAKacquisition Corp, a special purpose acquisition company (SPAC) backed by cryptocurrency exchange Kraken, has completed a $345 million initial public offering (IPO) and began trading on the NASDAQ Global Market on January 28 under the ticker symbol KRAQU. KRAKacquisition Corp was co-founded by Kraken's affiliated company along with Natural Capital and Tribe Capital, with the purpose of seeking future mergers or acquisitions. The company stated that it has not yet identified specific targets and has not engaged in substantive discussions with any potential transaction partners.
Kraken-backed SPAC KRAK Acquisition Corp Completes $345M IPO on Nasdaq
TechFlowShare
Summary
The Kraken-backed SPAC, KRAK Acquisition Corp, completed a $345 million IPO on Nasdaq on January 28, trading under the ticker KRAQU. The company, co-founded by Natural Capital and Tribe Capital, intends to pursue strategic mergers or acquisitions. On-chain analysis indicates increasing interest in crypto-related SPACs. However, no specific targets have been identified yet, and no substantive discussions with potential partners have occurred.
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