Keyarch Acquisition Corporation Announces the Separate Trading of its Class A Ordinary Shares, Warrants and Rights Commencing March 3, 2022
Keyarch Acquisition Corporation (Nasdaq: KYCHU) announced that starting March 3, 2022, holders of the company's units can trade the Class A ordinary shares, warrants, and rights separately. The units will continue to trade under the symbol KYCHU, while the separated components will trade under KYCH, KYCHW, and KYCHR. This separation allows flexibility in trading but does not involve fractional warrants. The company’s underwritten offering was managed by EarlyBirdCapital, Inc. and Haitong International Securities, with a registration statement effective since January 24, 2022.
- Facilitates separate trading of Class A ordinary shares, warrants, and rights, increasing liquidity for investors.
- Completion of underwritten offering indicates strong interest and confidence in the company.
- No fractional warrants will be issued, which may limit trading flexibility for some investors.
- Lack of specific details regarding future business plans or uses of raised capital in the press release.
NEW YORK, March 01, 2022 (GLOBE NEWSWIRE) -- Keyarch Acquisition Corporation (Nasdaq: KYCHU) (the “Company”) announced that, commencing March 3, 2022, holders of the Company’s units may elect to separately trade the Class A ordinary shares, warrants and rights included in the units. Any units not separated will continue to trade on The Nasdaq Global Market (the “Nasdaq”) under the symbol “KYCHU,” and the separated Class A ordinary shares, warrants and rights are expected to trade on the Nasdaq under the symbols “KYCH,” “KYCHW” and “KYCHR,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Unit holders will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares, warrants and rights.
The units were initially offered by the Company in an underwritten offering. EarlyBirdCapital, Inc. and Haitong International Securities acted as joint book-running managers for the offering, and Revere Securities acted as co-manager. A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on January 24, 2022.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Note Concerning Forward Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Company Contact:
Jing Lu
Chief Financial Officer
Keyarch Acquisition Corporation
jlu@keywisecapital.com
FAQ
What trading options are available for KYCHU shareholders from March 3, 2022?
What will the trading symbols be for separated components of the units?
Who managed the underwritten offering for Keyarch Acquisition Corporation?
When was the registration statement for KYCHU units effective?
Are there any risks associated with the forward-looking statements in the press release?
