KPET Ultra Paceline completes $200M IPO; trust funded for business combination

KPET Ultra Paceline Corp

IPO of 20M units at $10.00/unit; gross proceeds $200,000,000.
Private placement of 235,000 units at $10.00/unit to sponsor affiliate; gross $2,350,000.
$200M placed in trust (incl. $11M deferred underwriting) for future acquisition.
Company has 24 months (27 with sponsor extension) to complete initial business combination.
Audited balance sheet shows $1.76M cash outside trust and $9.73M shareholders' deficit.

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