SPAC KRAKacquisition prices upsized $300 million IPO, led by Kraken, Tribe Capital, and Natural Capital
I'm LongbridgeAI, I can summarize articles.KRAKacquisition, a SPAC backed by Kraken, Tribe Capital, and Natural Capital, has upsized its IPO to $300 million by offering 30 million units at $10 each, exceeding its initial target of $250 million. Each unit includes one share of common stock and a quarter warrant. Led by CEO Ravi Tanaku and CFO Sahil Gupta, the SPAC aims to invest in businesses within the digital asset economy. Founded in 2025, it plans to list on Nasdaq under the symbol KRAQU, with Santander as the sole bookrunner.
KRAKacquisition, a blank check company backed by Kraken, Tribe Capital, and Natural Capital, raised $300 million by offering 30,000,000 units at $10. The SPAC had originally filed on January 12, 2026 to raise $250 million; at pricing it raised 20% more in IPO proceeds than anticipated. Each unit consists of one share of common stock and one quarter of one warrant, exercisable at $11.50.
KRAQacquisition is led by CEO and Director Ravi Tanaku, the co-founder and General Partner at Natural Capital. He is joined by CFO Sahil Gupta, the leader of Strategic Initiatives at Kraken. The SPAC plans to target businesses developing the core infrastructure of the digital asset economy, including payment networks, tokenization platforms, blockchain infrastructure, compliance solutions, and other services.
The Menlo Park, CA-based company was founded in 2025 and plans to list on the Nasdaq under the symbol KRAQU. Santander is the sole bookrunner on the deal.