Kraken-Linked KRAKacquisition Seeks $250M in Nasdaq IPO

• Kraken affiliate-backed KRAKacquisition files S-1 for an IPO, aiming to raise $250 million.
• This move overlaps with Kraken’s IPO  announced in November 2025, showing its ecosystem expansion strategy.

As crypto firms explore various ways to access public markets, a Kraken affiliate-linked special purpose acquisition company (SPAC), KRAKacquisition Corp, has taken its first step toward going public by filing a Form S-1 registration statement with the U.S. Securities and Exchange Commission on Monday.

As per the official press release, the KRAKacquisition company planned an Initial Public Offering comprising 25,000,000 units. Each unit is scheduled to have a $10 offering price and include one Class A ordinary share and a quarter of a redeemable warrant. Also, it plans to raise $250 million; with that, the company intends to launch on the Nasdaq Global Market under the ticker KRAQU.  

Then, the report of IPO research company Renaissance Capital mentioned that  Tribe Capital, and Natural Capital are also supporting the KRAKacquisition,  in addition to Kraken. With that, Ravi Tanaku, co-founder and general partner of Natural Capital, will be the SPAC’s CEO and director, with Sahil Gupta, a Kraken executive, serving as chief financial officer.

Also, the SPAC has not named a specific target but is focused on companies that are building essential crypto infrastructure, such as payment systems and tokenization platforms, noted in the report.

Move Aligns With Kraken’s Public Market Push

The IPO plans for KRAKacquisition are taking place concurrently with Kraken’s IPO. Where the Kraken, a crypto exchange, quietly submitted its draft S-1 registration statement to the SEC in November of last year, valuing it at $20 billion.

Since that filing, Kraken has also moved ahead with acquisitions, as it acquired Small Exchange in an agreement worth $100 million, its second big derivatives acquisition last year after acquiring NinjaTrader for $1.5 billion. With that, KRAKacquisition’s IPO could support Kraken’s broader strategy of expanding its ecosystem.

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