Keyarch Acquisition Corporation (KYCHU) Prices 10M Unit IPO at $10/unit

January 25, 2022 5:52 AM EST

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Keyarch Acquisition Corporation (NASDAQ: KYCHU) 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.



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