Keystone Acquisition completes $287.5M IPO, places $288.2M in trust; 22.84M warrants outstanding
I'm LongbridgeAI, I can summarize articles.Keystone Acquisition completed its $287.5M IPO, selling 28.75 million units at $10 each. Proceeds of $288.2M were placed in a U.S. trust account. The company also sold 8.47 million private warrants for $8.5M. As of June 4, 2026, total assets stood at $290.2M, with over 22.8 million warrants outstanding.
Keystone Acquisition completed a 28.75M-unit IPO raising $287.5M and placed $288,218,750 in a U.S. trust account.
Key Highlights:
- Sold 28,750,000 units at $10.00 each, including 3,750,000 overallotment units, generating $287,500,000 gross proceeds.
- Completed private sale of 8,468,750 warrants at $1.00 each, adding $8,468,750; Sponsor bought 5,593,750.
- $288,218,750 of IPO and private placement proceeds (including up to $11.5M deferred commission) placed in U.S. trust.
- Audited balance sheet as of June 4, 2026 shows total assets $290,246,800 and cash in trust $288,218,750.
- 22,843,750 warrants outstanding (14,375,000 public; 8,468,750 private); public warrants exercisable at $11.50 post-business combination.
Original SEC Filing: Keystone Acquisition Corp. [ KEYYU ] - 8-K - Jun. 10, 2026
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