Ropes & Gray advised KRAKacquisition Corp in its upsized initial public offering of 34,500,000 units at $10 per unit, which included the full exercise of the underwriter’s overallotment option. Each unit consists of one share of common stock and one quarter of one warrant, exercisable at $11.50. The IPO closed on Jan. 29.
KRAKacquisition Corp is a special purpose acquisition company backed by Kraken, Tribe Capital, and Natural Capital focused on combining with targets in the digital asset ecosystem. The company has been listed on the Nasdaq Global exchange under the symbol “KRAQU.”
The team was led by capital markets partner Christopher Capuzzi.
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