Keyarch Acquisition Corporation’s $100 Million Initial Public Offering

Walkers acted as Cayman Islands counsel to Keyarch Acquisition Corporation, Orrick, Herrington & Sutcliffe LLP as its US counsel. Graubard Miller assisted the underwriters.

Keyarch Acquisition Corporation, a SPAC backed by Hong Kong-based asset management company Keywise Capital Management, priced its initial public offering of 10,000,000 units at a price of $10.00 per unit. 

The units started trading on January 25, 2022 on The Nasdaq Global Market under the ticker symbol “KYCHU.”. 

EarlyBirdCapital, Inc. and Haitong International Securities acted as joint book-running managers for the offering, and Revere Securities as co-manager.

The Company was formed by Keyarch Global Sponsor Limited for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search for a target on disruptive technology and innovative services companies in developed economies such as the U.S. and Israel, and Southeast Asia, but may pursue a target in any stage of its corporate evolution or in any industry, sector or geographic location. However, the Company will not undertake its initial business combination with any entity that is based in, located in or with its principal business operations in China (including Hong Kong and Macau).

The Walkers’ team was led by Hong Kong-based partner Nicholas Davies (Picture), with support from senior associate Selina Chan. 

The Orrick, Herrington & Sutcliffe team included Karen Dempsey, Alice Hsu, and Jeff Zhang. 

The Graubard Miller team comprised of David Alan Miller and Jeffrey M. Gallant. 

Involved fees earner: Jeffrey Gallant – Graubard Miller; David Alan Miller – Graubard Miller; Karen Dempsey – Orrick Herrington & Sutcliffe LLP; Alice Hsu – Orrick Herrington & Sutcliffe LLP; Jinsong Zhang – Orrick Herrington & Sutcliffe LLP; Selina Chan – Walkers Global; Nicholas Davies – Walkers Global;

Law Firms: Graubard Miller; Orrick Herrington & Sutcliffe LLP; Walkers Global;

Clients: EarlybirdCapital Inc. DE; Haitong International Securities Group Limited; Keyarch Acquisition Corporation; Revere Securities;

Sonia Carcano

Author: Sonia Carcano