This is a standard SPAC IPO filing with no target announced. Monitor for any 8-K disclosure of a letter of intent or definitive business combination agreement. The trust account provides a $10.025 per-share floor for public shareholders, limiting downside for common stock. The warrants (KEYYW) are out-of-the-money at $11.50 strike and will likely trade at a discount until a deal is announced.
Price Chart
Executive Summary
Keystone Acquisition Corp. filed an 8-K reporting the consummation of its initial public offering (IPO) on June 4, 2026, including the full exercise of the underwriters' over-allotment option. The blank-check company raised $287.5 million in gross proceeds from the sale of 28.75 million units at $10.00 per unit, plus $8.47 million from a concurrent private placement of warrants. A total of $288.2 million was placed in a trust account, with the company having 21 months to complete a business combination.
Key Facts
- IPO of 28,750,000 units closed on June 4, 2026 at $10.00 per unit, generating $287.5 million in gross proceeds
- Underwriters' over-allotment option exercised in full for 3,750,000 additional units
- Concurrent private placement of 8,468,750 warrants at $1.00 each to sponsor and underwriters raised $8.47 million
- Total of $288,218,750 placed in trust account ($10.025 per public share redemption value)
- Company has 21 months (until approximately March 2028) to complete an initial business combination
- Transaction costs of $17,871,474 including $5.75M cash underwriting fees and $11.5M deferred underwriting fees
- 9,583,333 Class B founder shares outstanding; sponsor holds 8,383,333 after transfers to officers and directors
Financial Impact
Gross proceeds of $287.5 million from IPO and $8.47 million from private placement warrants, with $288.2 million placed in trust
Risk Factors
- No identified acquisition target — risk of liquidation if no deal completed within 21 months
- Shareholder redemption risk upon deal announcement could reduce trust proceeds available for combination
- Founder shares convert to 25% of post-combination equity, creating dilution for public shareholders
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-067269 |
| Document: ea0294122-8k_keystone.htm | 0001213900-26-067269 |
| Document: 0001213900-26-067269-index-headers.html | 0001213900-26-067269 |
| Document: 0001213900-26-067269-index.html | 0001213900-26-067269 |
| Document: 0001213900-26-067269.txt | 0001213900-26-067269 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 10, 2026 19w ago | 8-K | $10.00 $10.14 | ▲ +1.40% | ▼ −2.22% | $10.05 (+0.50%) |
Jun 8, 2026 20w ago | 8-K | $10.00 $10.14 | ▲ +1.36% | ▼ −0.28% | $10.05 (+0.50%) |
US Market Status
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