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• Kraken-sponsored KRAKacquisition Corp has completed an upsized $345 million initial public offering after fully exercising its overallotment option.
• The special purpose acquisition company began trading on Nasdaq on Jan. 28 under the ticker KRAQU.

Kraken-linked special purpose acquisition company KRAKacquisition Corp has closed an upsized $345 million initial public offering and begun trading on Nasdaq, the company said Friday.

The debut follows earlier plans for a smaller raise of $250 million and comes as crypto-linked firms continue to explore public market routes amid shifting regulatory and capital market conditions in the U.S.

Per Friday’s announcement, the offering comprised 34.5 million units priced at $10 each, including 4.5 million units sold after the underwriter exercised its overallotment option in full. Gross proceeds totaled $345 million before fees and expenses.

KRAKacquisition’s units started trading on the Nasdaq Global Market exchange on Jan. 28 under the ticker symbol KRAQU. Each unit consists of one Class A ordinary share and one-quarter of a redeemable warrant, with each full warrant exercisable at $11.50 per share.

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