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AI brief of an SEC Form 8-K · Keystone Acquisition Corp. (KEYY)

Keystone Acquisition closes $287.5 million IPO, names three independent directors

Neutral Impact 3 of 5 financing Written later

Keystone Acquisition Corp., a blank check company, closed its initial public offering of 28,750,000 units on June 4, 2026, including the full exercise of the underwriters' over-allotment option, for gross proceeds of $287.5 million. It also sold 8,468,750 private placement warrants for $8,468,750, and $288,218,750 was placed in a trust account. The company has no operating business yet. Trust funds stay in the account until a business combination is completed or public shares are redeemed, which can occur if no combination is completed within 21 months of the IPO closing.

Key points

  • Trust account holds $288,218,750, or $10.025 per unit sold in the public offering.
  • Private placement of 8,468,750 warrants at $1.00 each; the sponsor bought 5,593,750 warrants.
  • Speaker John A. Boehner, Paul Y. Cho and Martin Payne were appointed independent directors on June 2, 2026, and received 40,000, 35,000 and 25,000 Class B ordinary shares, respectively.
  • Trust funds are released only on a business combination or, if none is completed within 21 months, redemption of public shares.

The filing

CompanyKeystone Acquisition Corp. (KEYY)
Form8-K, current report
Filed with the SECJun 8, 2026, 3:37 PM ET
Accession number0001213900-26-066255

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale5.02 Director / Officer Change5.03 Bylaw / Charter Amendment8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 08, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.