Keystone Acquisition, a blank check company targeting energy, shipbuilding, semiconductors, and digital infrastructure, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock, and one-half of one warrant to purchase a share, exercisable at $11.50.
Keystone Acquisition is led by CEO Richard Chin, the Co-CEO of Solidigm and former President of SK Hynix. He is joined by CFO Jake Cho, the CEO of AgaMatrix, former Head of Legal at i-SENS, and former VP of Corporate Development at SK Hynix. The SPAC intends to target energy transition and critical minerals, shipbuilding and maritime engineering, semiconductors and advanced electronics, digital infrastructure and data centers, and digital assets and crypto treasuries.
The New York, NY-based company will trade on the Nasdaq under the symbol KEYYU. Cohen & Company Securities acted as sole bookrunner on the deal.
