KEYY
KEYYUCIK 0002102771
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KEYYU (KEYY) prices $250M SPAC IPO at $10.00 per unit; net proceeds to company $251.9M
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KEYYU SPAC shortens deal deadline to 21 months, raises trust to $10.025/share
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Six months ended June 30, 2026 |
|---|---|---|
| General and administrative expenses | 448,201 | 485,441 |
| Compensation expense | 245,099 | 245,099 |
| Loss from operations | (693,300) | (730,540) |
| Other income: | ||
| Interest earned on investments held in Trust Account | 754,831 | 754,831 |
| Referral fee income | 12,500 | 12,500 |
| Total other income | 767,331 | 767,331 |
| Net income | 74,031 | 36,791 |
| Weighted average shares outstanding, Class A redeemable ordinary shares, basic and diluted | 8,530,220 | 4,288,674 |
| Basic and diluted net income per share, Class A redeemable ordinary shares | 0.00 | 0.00 |
| Weighted average Class B ordinary shares outstanding, basic | 8,704,212 | 8,519,797 |
| Basic net income per Class B ordinary share | 0.00 | 0.00 |
| Weighted average Class B ordinary shares outstanding, diluted (1) | 9,583,333 | 8,968,692 |
| Diluted net income per Class B ordinary share | 0.00 | 0.00 |
Condensed Balance Sheets
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash | 1,066,548 | — |
| Other receivable | 12,500 | — |
| Prepaid expenses | 69,950 | 25,000 |
| Prepaid insurance | 106,250 | — |
| Deferred offering costs | — | 11,229 |
| Total current assets | 1,255,248 | 36,229 |
| Long term prepaid insurance | 97,986 | — |
| Investments held in Trust Account | 288,973,581 | — |
| Total Assets | 290,326,815 | 36,229 |
| Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | ||
| Current liabilities | ||
| Accounts payable and accrued expenses | 352,807 | 26,606 |
| Accrued offering costs | 96,448 | 11,229 |
| Total current liabilities | 449,255 | 37,835 |
| Deferred underwriting fee | 11,500,000 | — |
| Total Liabilities | 11,949,255 | 37,835 |
| Commitments and Contingencies (Note 7) | ||
| Class A Ordinary Shares Subject to Possible Redemption | ||
| Class A ordinary shares subject to possible redemption, $0.0001 par value; 28,750,000 shares at redemption value of $10.05 and $0 per share as of June 30, 2026 and December 31, 2025, respectively | 288,973,581 | — |
| Shareholders’ Deficit | ||
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding as of June 30, 2026 and December 31, 2025 | — | — |
| Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; none issued or outstanding (excluding 28,750,000 shares subject to possible redemption) as of June 30, 2026 and December 31, 2025 | — | — |
| Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 9,583,333 issued and outstanding as of June 30, 2026 and December 31, 2025 (1) | 958 | 958 |
| Additional paid-in capital | — | 24,042 |
| Accumulated deficit | (10,596,979) | (26,606) |
| Total Shareholders’ Deficit | (10,596,021) | (1,606) |
| Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | 290,326,815 | 36,229 |
Condensed Statement of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 |
|---|---|
| Net income | 36,791 |
| Adjustments to reconcile net income to net cash used in operating activities: | |
| Payment of operation costs through promissory note | 58,218 |
| Payment of operation costs through advances from related party | 5,877 |
| Interest earned on investments held in Trust Account | (754,831) |
| Compensation expense | 245,099 |
| Changes in operating assets and liabilities: | |
| Other receivable | (12,500) |
| Prepaid expenses | 28,302 |
| Prepaid insurance | (106,250) |
| Long term prepaid insurance | (97,986) |
| Accounts payable and accrued expenses | 322,806 |
| Net cash used in operating activities | (274,474) |
| Cash Flows from Investing Activities: | |
| Investment of cash in Trust Account | (288,218,750) |
| Net cash used in investing activities | (288,218,750) |
| Cash Flows from Financing Activities: | |
| Proceeds from sale of units, net of underwriting discounts paid | 281,750,000 |
| Proceeds from sale of private placement warrants | 8,468,750 |
| Repayment of advances from related party | (5,877) |
| Repayment of promissory note related party | (300,000) |
| Payment of offering costs | (353,101) |
| Net cash provided by financing activities | 289,559,772 |
| Net Change in Cash | 1,066,548 |
| Cash Beginning of period | — |
| Cash End of period | 1,066,548 |
| Supplemental disclosure of non-cash investing and financing activities: | |
| Offering costs included in accrued offering costs | 391,715 |
| Deferred offering costs paid through promissory note related party | 157,716 |
| Deferred offering costs applied to prepaid expenses | 10,814 |
| Prepaid expenses contributed by Sponsor through promissory note related party | 84,066 |
| Deferred underwriting fee payable | 11,500,000 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗