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KRAKacquisition Corp, a Cayman Islands-based blank check company, files its annual report outlining its structure and strategy as a SPAC focused on the digital asset ecosystem and the convergence of DeFi and traditional finance. The company completed an initial public offering of 34,500,000 units at $10.00 per unit, placing approximately $345.0 million into a trust account, with additional proceeds from 2,250,000 private placement warrants.
The SPAC has 24 months from its IPO closing to complete a business combination, primarily targeting digital asset infrastructure, payment networks, tokenization platforms, and related services. Public shareholders are offered redemption rights at about $10.00 per share in connection with a business combination or liquidation, subject to detailed limits, including a 15% cap on redemptions by any single holder or group when a shareholder vote is used. As of March 30, 2026, the company reports 43,125,000 shares outstanding and emphasizes extensive risk factors related to completing a deal, high competition for targets, and the possibility that investors could lose part or all of their investment if no transaction is completed.
KRAKacquisition Corp, a blank check company listed on Nasdaq, announced that investors in its units can begin separately trading the Class A ordinary shares and warrants included in those units starting on March 20, 2026. Units will continue to trade under the symbol KRAQU, while the separated Class A shares and warrants will trade under KRAQ and KRAQW, respectively. Only whole warrants will trade, as no fractional warrants will be issued upon separation. The company reiterates that this communication is not an offer to sell or solicit purchases of its securities and that its purpose remains to complete a future business combination, although no target has yet been selected.
Meteora Capital, LLC and its managing member Vik Mittal have filed a Schedule 13G reporting beneficial ownership of KRAKacquisition Corp class A common stock. They report beneficial ownership of 2,527,282 shares, representing 8.70% of the class, as of the event date 01/31/2026.
The filing states that Meteora Capital has shared voting and dispositive power over these 2,527,282 shares through certain funds and managed accounts it oversees, with no sole voting or dispositive power. The securities are reported as being held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
KRAKacquisition Corp reports it has completed its initial public offering of 34,500,000 units at $10.00 per unit, raising gross proceeds of $345,000,000. It also sold 2,250,000 private placement warrants at $1.00 each for an additional $2,250,000.
The company placed $345,000,000 of IPO and private placement proceeds into a trust account for the benefit of public shareholders and underwriters, with funds generally locked up until a business combination or full redemption. It has 24 months, until January 29, 2028, to complete a business combination or liquidate.
An audited balance sheet as of January 29, 2026 shows total assets of $346,776,784, including $345,000,000 in the trust account and $1,776,784 in cash for working capital. Management notes that IPO proceeds provide sufficient liquidity for at least one year, alleviating prior substantial doubt about going concern, while the company remains a pre-revenue SPAC seeking a suitable target.
KRAKacquisition Corp director Nikita Sachdev has filed an initial ownership report showing beneficial ownership of derivative securities in the company. Sachdev holds 30,000 Class B Ordinary Shares, reported as directly owned.
These Class B Ordinary Shares will automatically convert into an equal number of Class A Ordinary Shares on a one-for-one basis at the time of KRAKacquisition Corp’s initial business combination, subject to adjustment. The footnote states that these Class B shares have no expiration date.
KRAKacquisition Corp, a newly formed special purpose acquisition company, completed its upsized initial public offering of 34,500,000 units at $10.00 per unit, raising gross proceeds of $345,000,000 before fees and expenses. Each unit includes one Class A ordinary share and one-fourth of a redeemable warrant exercisable at $11.50 per share.
The sponsor bought 2,250,000 private placement warrants for $2,250,000, and a total of $345,000,000 from the IPO and private placement was deposited in a trust account for the benefit of public shareholders. The company has up to 24 months from the IPO closing to complete an initial business combination or redeem public shares.
The board of directors was expanded with six new directors, committees were formed, and indemnity and administrative services agreements were executed, including a $30,000 per month services fee to the sponsor until a business combination or liquidation. The company’s initial shareholders now hold 8,625,000 Class B ordinary shares following a share capitalization.