Key Highlights
- Kraken-backed KRAKacquisition Corp has filed for a $250M IPO, aiming to take a crypto infrastructure company public through a SPAC.
- The SPAC is led by CEO Ravi Tanuku (Natural Capital) and CFO Sahil Gupta, who currently serves as Kraken’s Head of Strategic Initiatives.
- The SPAC plans to list 25M units on Nasdaq under “KRAQU” and focus on digital asset infrastructure and financial services.
A new company backed by the U.S. cryptocurrency exchange Kraken has filed paperwork to go public, with plans to raise up to $250 million in an initial public offering (IPO).
The company, KRAKacquisition Corp, is a special purpose acquisition company, or SPAC. It was created to raise money from public investors and later use that cash to merge with or acquire a private business.
According to the Form S-1 filed with the U.S. Securities and Exchange Commission (SEC), the SPAC intends to focus on companies building infrastructure, technology, and financial services for the digital asset ecosystem. The registration statement was filed with the SEC on January 12, 2026.
KRAKacquisition was incorporated in the Cayman Islands in July 2025. It plans to sell 25 million units at $10 each and expects to list them on the Nasdaq Global Market under the ticker “KRAQU.” Each unit typically represents a share of common stock and a portion of a warrant to purchase more stock in the future, providing an incentive for early public investors.
The filing states that the company has not yet identified a specific acquisition target and has not held substantive talks with any potential partners. The SPAC will have up to 24 months after the IPO to complete a business combination. If it fails to do so, it must return the money raised to public shareholders.
Kraken’s involvement
Kraken is backing the SPAC alongside investment firms Tribe Capital and Natural Capital. While Kraken will not be contractually required to participate in any future deal, the filing notes that its involvement is expected to provide industry access, operational support, and regulatory experience.
Several Kraken executives are closely involved in the SPAC including CEO Ravi Tanuku. Kraken’s Head of Strategic Initiatives, Sahil Gupta, is serving as Chief Financial Officer of KRAKacquisition. Kraken’s Vice President of Strategy and Corporate Development, Robert Moore, is set to join the board after the IPO.
The move comes as interest grows in crypto-related public listings, particularly among firms focused on the underlying infrastructure that supports digital asset markets.
Also Read: Crypto Firm BitGo Plans US IPO Valued Up to $1.96B
