CEX's SPAC submits application for NASDAQ listing, plans to raise $250 million

On January 13, the US cryptocurrency trading platform CEX announced support for a newly established Special Purpose Acquisition Company (SPAC), which plans to go public through an issuer affiliated with CEX. The newly formed blank check company KrakAcquisition, supported jointly by CEX, Tribe Capital, and Natural Capital, submitted documents to the US Securities and Exchange Commission (SEC) on Monday (January 13), aiming to raise up to $250 million through an initial public offering (IPO). According to SEC filing documents, this exempt company registered in the Cayman Islands in July 2025 plans to issue 25 million shares (at $10 per share) and intends to apply for listing on the Nasdaq Global Market under the stock ticker “KRAQU.” Although the SPAC mainly targets companies in the cryptocurrency infrastructure sector, reports indicate that CEX also submitted a confidential S-1 form in November last year to seek potential IPO opportunities for its common stock.