KRAK Acquisition Corp, a SPAC associated with cryptocurrency exchange Kraken, has filed for a $250 million IPO on the Nasdaq Global Market. The company plans to issue 25 million units at $10 each, with each unit comprising one Class A ordinary share and a quarter of a redeemable warrant. The stock will trade under the ticker "KRAQU." KRAK Acquisition aims to merge with or acquire one or more businesses, although no specific targets have been identified. This move coincides with Kraken's own direct listing plans, following its draft S-1 filing with a $20 billion valuation. In 2025, Kraken expanded its portfolio by acquiring four companies, including NinjaTrader and Backed Finance.