One of the most prominent crypto exchanges in the US, Kraken, is mulling over a private offering. The company sent an email out to its most prominent clients, which informs them about the investment opportunity.
According to the contents of the email, the customers of the crypto exchange are invited to fill out an online survey before they get additional information. Kraken underlines that it is not in need of financing, but given the crypto bear market and the company’s “significant reserves,” it sees opportunities for acquisitions.
The valuation at which Kraken is listing shares for sale is $4 billion, and the minimum investment size is $100,000, the company said in the email.
“The transaction process will be done by a 3rd party service, who will run accredited investor checks, facilitate the execution of transaction documents, and the funding of your investment,” the emails states.
Kraken is going to be evaluating each prospective investor for eligibility to be a part of the share offering. The customers who received the email have until December 16 to respond to the survey. More details are to be provided in the near future, as the company probes its prospects for the additional fundraising effort.
With the ICO market essentially dead, Kraken’s effort seems targeted at hardcore crypto enthusiasts with substantial funds. The company has been notably cheaper when compared to many of its competitors, but its service was also mired in tech glitches as the crypto market ran hot last December.