Kraken-affiliated SPAC files for $250M Nasdaq IPO

KRAKacquisition, a special purpose acquisition company (SPAC) backed by an affiliate of crypto exchange Kraken, is seeking to list on Nasdaq, The Block reported. The company has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for an initial public offering. It aims to raise $250 million and, if approved, will trade on the Nasdaq Global Market under the ticker KRAQU. KRAKacquisition has not yet identified a specific merger target. The move comes as Kraken itself has previously stated it is pursuing an IPO with a target of listing this year.