Keystone Acquisition prices $250 million IPO at $10 per unit

Keystone Acquisition Corp. (NASDAQ: KEYY) priced its initial public offering of 25 million units at $10 per unit, raising $250 million in gross proceeds.

Each unit includes one Class A ordinary share and half of one redeemable warrant. Each whole warrant allows the holder to purchase one Class A ordinary share at $11.50 per share.

The units are expected to begin trading on Nasdaq under the ticker symbol "KEYYU" on June 3, 2026. The Class A ordinary shares and warrants will trade separately under the symbols "KEYY" and "KEYYW" respectively once separate trading begins. The offering is expected to close on June 4, 2026.

Keystone Acquisition Corp. is a blank check company formed to pursue mergers, acquisitions or business combinations. The company stated it intends to focus on opportunities in U.S. industrial development sectors including energy transition and critical minerals, shipbuilding and maritime engineering, semiconductors and advanced electronics, digital infrastructure and data centers, and digital assets and crypto treasuries.

Cohen & Company Capital Markets serves as the lead book-running manager for the offering. The Securities and Exchange Commission declared the registration statement effective, according to the company's announcement.

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