KRAKacquisition Corp Announces Closing of Upsized $345 Million Initial Public Offering and Full Exercise of Over-Allotment Option

Rhea-AI Summary

KRAKacquisition Corp (NASDAQ:KRAQU) closed an upsized IPO of 34,500,000 units priced at $10.00 per unit, including the full exercise of a 4,500,000-unit over-allotment, generating gross proceeds of $345 million before fees.

Units began trading on January 28, 2026. Each unit contains one Class A ordinary share and one-fourth of a warrant; each full warrant is exercisable for one Class A share at $11.50. Separate trading of shares and warrants is expected under KRAQ and KRAQW. The company is a SPAC formed to pursue a business combination and has not selected a target. Santander US Capital Markets acted as sole underwriter; the Form S-1 became effective on January 27, 2026.

Positive

• Gross proceeds of $345 million from IPO
• Offering included full exercise of 4,500,000-unit over-allotment
• Units began trading on Nasdaq on January 28, 2026

Negative

• Company has not selected any business combination target, leaving near-term use of proceeds uncertain
• Warrants exercisable at $11.50 may dilute shareholders if exercised

News Market Reaction

+0.15%

1 alert

+0.15% News Effect

On the day this news was published, KRAQU gained 0.15%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Units Offered: 34,500,000 units Over-Allotment Units: 4,500,000 units IPO Price: $10.00 per unit +5 more

8 metrics

Units Offered 34,500,000 units Upsized IPO, including full over-allotment exercise

Over-Allotment Units 4,500,000 units Additional units sold via full over-allotment option

IPO Price $10.00 per unit Initial public offering price on Nasdaq Global Market

Gross Proceeds $345 million IPO gross proceeds before underwriting discounts and expenses

Warrant Exercise Price $11.50 per share Exercise price for each redeemable warrant

Unit Warrant Fraction 1/4 warrant per share Each unit includes one-fourth of one redeemable warrant

S-1 Effective Date January 27, 2026 Registration statement on Form S-1 became effective

Trading Start Date January 28, 2026 Units began trading under ticker “KRAQU” on Nasdaq Global Market

Market Reality Check

Price: $10.08 Vol: Volume 320,937 is below t...

low vol

$10.08 Last Close

Volume Volume 320,937 is below the 20-day average of 5,178,645, indicating relatively light post-IPO trading. low

Technical Trading slightly above the 200-day MA at 10.11, near the IPO issue price.

Market Pulse Summary

This announcement highlights the successful closing of an upsized SPAC IPO, with 34,500,000 units so...

Analysis

This announcement highlights the successful closing of an upsized SPAC IPO, with 34,500,000 units sold at $10.00 each for $345 million in gross proceeds and full over-allotment exercise. Units began trading on Nasdaq under “KRAQU,” each including a Class A share and a fractional warrant exercisable at $11.50. With no business combination target yet selected, investors would focus on sponsor pedigree, trust structure, and future transaction announcements as key catalysts.

Key Terms

special purpose acquisition company, over-allotment option, redeemable warrant, prospectus, +3 more

7 terms

special purpose acquisition company financial

"the Company), a special purpose acquisition company sponsored by an affiliate"

A special purpose acquisition company (SPAC) is a company formed with the sole purpose of raising money through a public offering to buy or merge with an existing private business. It acts like a vehicle that allows private companies to go public more quickly and with less complexity. For investors, it offers an opportunity to invest early in a potential acquisition, though it also carries risks if the intended deal doesn’t materialize.

over-allotment option financial

"additional 4,500,000 units sold pursuant to the full exercise by the underwriter of its over-allotment option"

An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.

redeemable warrant financial

"one Class A ordinary share and one-fourth of one redeemable warrant, with each warrant entitling"

A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.

prospectus regulatory

"The offering was made only by means of a prospectus, copies of which may be obtained"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

registration statement regulatory

"A registration statement on Form S-1 relating to the securities became effective"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

Form S-1 regulatory

"A registration statement on Form S-1 relating to the securities became effective"

A Form S-1 is the registration filing a company submits to the U.S. Securities and Exchange Commission when it plans to offer stock to the public, most commonly for an initial public offering. Think of it as the company’s full disclosure packet or blueprint: it contains audited financials, business description, management background, risk factors and details of the offering, giving investors the information needed to judge the company’s financial health and potential risks before buying shares.

Nasdaq Global Market technical

"units began trading on the Nasdaq Global Market under the ticker symbol “KRAQU”"

The Nasdaq Global Market is a section of the stock exchange where larger, well-established companies are listed and publicly traded. It functions like a marketplace where investors can buy and sell shares of these companies, providing them with access to capital and opportunities for growth. Its role is important because it helps investors identify and invest in reputable companies with strong financial backgrounds.

AI-generated analysis. Not financial advice.

Cheyenne, WY, USA, Jan. 30, 2026 (GLOBE NEWSWIRE) -- KRAKacquisition Corp (the “Company”), a special purpose acquisition company sponsored by an affiliate of Natural Capital, Tribe Capital, and Payward, Inc. (“Kraken”), today announced the closing of its previously announced upsized initial public offering of 34,500,000 units, including an additional 4,500,000 units sold pursuant to the full exercise by the underwriter of its over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $345 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. 

The Company’s units began trading on the Nasdaq Global Market under the ticker symbol “KRAQU” on January 28, 2026.  Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant, with each warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq Global Market under the ticker symbols “KRAQ” and “KRAQW,” respectively.

KRAKacquisition Corp (Information on our website is not included or incorporated by reference into this press release) was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The Company has not selected any specific business combination target and has not, nor has anyone on its behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target.

Santander US Capital Markets LLC is acting as the sole underwriter for the offering. The offering was made only by means of a prospectus, copies of which may be obtained from Santander US Capital Markets LLC, 437 Madison Avenue, New York, NY 10022, Attention: ECM Syndicate, by email at equity-syndicate@santander.us, or by telephone at 833-818-1602.

A registration statement on Form S-1 relating to the securities became effective on January 27, 2026, in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the Company will ultimately complete a business combination or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those described in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

About KRAKacquisition Corp

KRAKacquisition Corp is a blank check company formed for the purpose of effecting a business combination with one or more operating businesses. The Company is sponsored by an affiliate of Kraken.

Media Contacts:
KRAKacquisition Corp
Conor McLarnon
+44 7749 080 683
Conor@lunapr.io

FAQ

How much did KRAKacquisition Corp raise in its January 2026 IPO (KRAQU)?

KRAKacquisition Corp raised gross proceeds of $345 million in the IPO. According to the company, the offering priced at $10.00 per unit and included the full 4.5 million-unit over-allotment.

What does each KRAQU unit include and what are the warrant terms?

Each unit comprises one Class A ordinary share and one-fourth of a redeemable warrant. According to the company, each full warrant entitles the holder to buy one Class A share at $11.50 per share.

When did KRAQU begin trading and what tickers will the securities use?

Units began trading on the Nasdaq Global Market on January 28, 2026. According to the company, separate trading of shares and warrants is expected under KRAQ and KRAQW when separated.

Who underwrote the KRAQU offering and when did the S-1 become effective?

Santander US Capital Markets acted as the sole underwriter for the offering. According to the company, the registration statement on Form S-1 became effective on January 27, 2026.

Has KRAKacquisition Corp selected a target for its SPAC business combination?

No, the company has not selected any specific business combination target. According to the company, it has not engaged in substantive discussions with any potential target as of the announcement.