Keyarch Acquisition closed the overallotment option that the underwriters of its initial public offering exercised in full. The full exercise resulted in the sale of an additional 1.5 million units at $10 per unit. The final raise was $115 million.
The units trade on the Nasdaq under the ticker symbol KYCHU. Each consists of one Class A ordinary share, one-half of a warrant and one right to receive one-tenth of a share. Once the securities begin separate trading, shares, warrants and rights are expected to be listed under the symbols KYCH, KYCHW and KYCHR, respectively.
EarlyBirdCapital and Haitong International Securities were joint book-running managers for the offering, and Revere Securities was co-manager.
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