SPAC Keystone Acquisition files for a $250 million IPO, targeting energy, minerals, and shipbuilding
IPO Overview
Keystone Acquisition, a blank check company targeting energy, shipbuilding, semiconductors, and digital infrastructure, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The company plans to raise $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 was founded in 2025. It plans to list on the Nasdaq under the symbol KEYYU. Keystone Acquisition filed confidentially on January 23, 2026. Cohen & Company Securities is the sole bookrunner on the deal.
About the Company
We are a newly incorporated blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination. We will seek to capitalize on the experience of our management team, which consists of investors & entrepreneurs as well as individuals with backgrounds in the financial services industry. Our management team has extensive experience in identifying and executing strategic investments and has done so successfully in a number of sectors, particularly in telecommunications, fintech, healthcare, venture capital, and semiconductors. While we may pursue an initial business combination target in any business, industry or geographical location, we intend to focus our search on companies that sit within high growth sectors related to innovation in United States industrial development, with an emphasis on energy transition & critical minerals, shipbuilding & maritime engineering, semiconductors & advanced electronics, digital infrastructure & data centers, and digital assets & crypto treasuries.