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A&O Shearman advises underwriter on KRAKacquisition Corp’s upsized USD345 million SPAC IPO

A&O Shearman advises underwriter on KRAKacquisition Corp’s upsized USD345 million SPAC IPO
Published Date
Jan 30 2026
Related people
Image of Ilir Mujalovic
Ilir MujalovicPartner, New York
Image of Harald Halbhuber
Harald HalbhuberPartner, New York
Image of John Menke
John MenkeCounsel, Houston
Image of Kazumasa Watanabe
Kazumasa WatanabeAssociate, New York
Image of Justin Higdon
Justin HigdonAssociate, Houston
Image of Paul Gerstle
Paul GerstleAssociate, Houston
Image of Jennifer Morton
Jennifer MortonPartner, New York
Image of Daniel Lewis
Daniel LewisPartner, New York
Image of Larry Crouch
Larry CrouchPartner, New York
Image of Taylor Pugliese
Taylor PuglieseAssociate, New York
Image of Austin Jones
Austin JonesAssociate, Silicon Valley
Ryan SedwickAssociate, New York
A&O Shearman advised the underwriter on the upsized initial public offering of KRAKacquisition Corp, a special-purpose acquisition company, of 34.5 million units at an offering price of USD10.00 per unit. Each unit consisted of one Class A ordinary share and one-fourth of one redeemable warrant, resulting in gross proceeds to the Company of USD345 million, before deducting underwriting discounts and commissions and offering expenses. 

The 34.5 million units included 4.5 million units issued pursuant to the underwriter’s option to purchase additional units. The units began trading on the NASDAQ under the ticker symbol “KRAQU” on January 28, 2026.

KRAKacquisition Corp is a blank check company 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 is sponsored by an affiliate of Kraken and led by Chief Executive Officer Ravi Tanuku and Chief Financial Officer Sahil Gupta. 

The A&O Shearman team was led by partners Ilir Mujalovic and Harald Halbhuber (both New York, U.S. Capital Markets); counsel John Menke (Houston, U.S. Capital Markets); and associates Kazumasa Watanabe (New York, U.S. Capital Markets), Justin Higdon and Paul Gerstle (both Houston, U.S. Capital Markets),

Other A&O Shearman lawyers involved in the transaction included partners Jennifer Morton (New York, Financial Services Regulatory), Daniel Lewis (New York, Litigation & Investigations), and Larry Crouch (Silicon Valley, Tax); and associates Taylor Pugliese (New York, Financial Services Regulatory), Austin Jones (Silicon Valley, Tax), and Ryan Sedwick (New York, Tax).

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