Keystone Acquisition Prices $250 Mln IPO At $10/Unit

(RTTNews) - Keystone Acquisition Corp. (KEYYU) on Tuesday announced the pricing of its initial public offering of 25 million units at $10 per unit.

The offering is expected to close on Thursday.

The gross proceeds from the offering are expected to be $250 million.

The company said that each unit consists of one Class A ordinary share and one-half of one redeemable warrant.

Each whole warrant entitles the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share.

The units are expected to begin trading on the Nasdaq Global Market on Wednesday under the ticker symbol KEYYU.

Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to trade under the symbols KEYY and KEYYW, respectively.