Kraken-supported SPAC company KRAKacquisition Corp completes $345 million IPO and lists on Nasdaq

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 affiliates 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.