A Special Purpose Acquisition Company (SPAC) backed by an affiliate of crypto exchange Kraken has filed for a $250 million IPO. It signals renewed activity in crypto-related public market listings.
The entity based out of Cayman Islands plans to sell 25 million units priced at $10 each, with every unit including a Class A share and a fraction of a warrant. If approved, it will trade on Nasdaq under the ticker KRAQU. Santander will act as its lead underwriter.
Although no acquisition target has been named, the SPAC intends to focus on companies operating in the crypto and digital asset space. The move offers Kraken another pathway to bring crypto infrastructure firms into public markets.
The filing follows a broader revival of crypto IPOs. Kraken itself has been preparing for a potential listing after raising $500 million at a $15 billion valuation.
You need to login in order to Like
Leave a comment