Keyarch Acquisition Corporation Announces Pricing of $100 Million Initial Public Offering
January 24 2022 - 8:33PM
Keyarch Acquisition Corporation (the “Company”) announced today
that it priced its initial public offering of 10,000,000 units
at a price of $10.00 per unit. The Company has granted
the underwriters a 45-day option to purchase up to 1,500,000 units
to cover over-allotments, if any. The units are expected to
commence trading on January 25, 2022 on The Nasdaq Global Market
(“Nasdaq”) and trade under the ticker symbol “KYCHU.” Each unit
consists of one Class A ordinary share of the Company, one-half of
one redeemable warrant and one right to receive one-tenth of one
Class A ordinary share. Each whole warrant entitles the holder
thereof to purchase one Class A ordinary share of the Company at a
price of $11.50 per share. Once the securities comprising the units
begin separate trading, the Class A ordinary shares, warrants and
rights are expected to be listed on the Nasdaq under the symbols
“KYCH,” “KYCHW” and “KYCHR,” respectively.
The Company was formed by Keyarch Global Sponsor
Limited for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
Company intends to focus its search for a target on disruptive
technology and innovative services companies in developed economies
such as the U.S. and Israel, and Southeast Asia, but may
pursue a target in any stage of its corporate evolution or in any
industry, sector or geographic location. However, the Company will
not undertake its initial business combination with any entity that
is based in, located in or with its principal business operations
in China (including Hong Kong and Macau).
EarlyBirdCapital, Inc. and Haitong International
Securities are acting as joint book-running managers for the
offering, and Revere Securities is acting as co-manager. The public
offering will only be made by means of a prospectus. Copies of the
final prospectus may be obtained from: EarlyBirdCapital, Inc.,
Attention: Syndicate Department, 366 Madison Avenue, 8th
Floor, New York, New York 10017, or by telephone at
212-661-0200. Copies of the registration statement can also be
accessed through the SEC's website at www.sec.gov.
A registration statement relating to the
securities became effective on January 24, 2022 in accordance with
Section 8(a) of the Securities Act of 1933, as amended. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward
Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward-looking statements, including the successful consummation
of the Company’s initial public offering and use of proceeds
related thereto, are subject to risks and uncertainties, which
could cause actual results to differ from the forward looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Company Contact:Jing LuChief Financial
OfficerKeyarch Acquisition Corporationjlu@keywisecapital.com
Jing Lu
Chief Financial Officer
Keyarch Acquisition Corporation
(914) 434-2030
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