A related SPAC company of a leading cryptocurrency exchange has officially submitted a listing application to the U.S. Securities and Exchange Commission. According to reports, this special purpose acquisition company plans to list on NASDAQ under the ticker symbol "KRAQU".

In terms of fundraising scale, this IPO is expected to issue 25 million units at a price of $10 per unit. Each unit includes 1 Class A common share and 0.25 redeemable warrants, which is a typical structure for SPAC financing. Based on this, the total fundraising amount is approximately $250 million.

The essence of a SPAC is a blank check company, essentially a shell company created for the purpose of merging with an operational business. Although this company has backing from major exchanges, it has not yet identified a specific acquisition target. An official statement clearly indicated that it has not engaged in substantive negotiations with any potential targets.

Regarding the financing lineup, besides the main sponsor, it has attracted well-known investment institutions such as Tribe Capital and Natural Capital. This suggests that the market remains optimistic about its future acquisition prospects.

A SPAC listing is just the first step; the real focus is on which company it will ultimately merge with. For companies looking to enter the public markets but not wanting to go through a traditional IPO, this is an increasingly common shortcut.