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Kraken-linked SPAC Company Seeks Acquisition Targets, Valuation Could Reach Up to $10 Billion

Kraken-linked SPAC Company Seeks Acquisition Targets, Valuation Could Reach Up to $10 Billion

2026-03-14 10:36

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ChainThink report, March 14: The special purpose acquisition company (SPAC) affiliated with crypto exchange Kraken, KRAKacquisition Corp., is seeking potential acquisition targets, with target companies potentially valued up to $10 billion.


Company director Ravi Tanuku stated that KRAKacquisition is broadly evaluating crypto-native enterprises, particularly focusing on stablecoins, DeFi, and crypto payments, aiming to facilitate mid-to-small cap companies' public market entry through reverse merger.


KRAKacquisition completed its $345 million IPO in January this year and has two years to identify a merger target. Tanuku noted that the final target company’s valuation could instead be closer to $2 billion.


At the time this plan was announced, Kraken is also considering an IPO this year, following a funding round that valued the exchange at $20 billion.

#DeFi#IPO

Disclaimer: Contains third-party opinions, does not constitute financial advice

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