KPET Ultra Paceline Corp
kpetultra.comKPET Ultra Paceline Corporation (KPET) is a blank check company formed for the purpose of completing a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more target businesses. The company generates no operating revenue. Its capital structure centers on a $230,000,000 Trust Account funded through an IPO of 20,000,000 Units at $10.00 per Unit, which closed April 1, 2026, and a subsequent over-allotment close on April 20, 2026 that added 3,000,000 Units for $30,000,000 in gross proceeds. Simultaneously, 235,000 Private Placement Units were sold at $10.00 per unit to the Unit Holder Sponsor for $2,350,000. The company has not yet identified or completed a business combination as of the filing date of May 13, 2026. Disclosure controls were determined to be not effective as of March 31, 2026, due to a material weakness related to accounting for a related party promissory note.
Products & Services
Units consisting of Class A ordinary shares and fractional warrants, sold in the IPO and private placement. Private Placement Units each consist of one Private Placement Share and one-sixth of one Private Placement Warrant.
Revenue Model
No operating revenue. The company is a pre-combination SPAC whose sole near-term income source is interest earned on the $230,000,000 Trust Account. Working capital needs are funded by amounts held outside the Trust Account and, if necessary, sponsor loans of up to $1,500,000 convertible into post-combination units at $10.00 per unit.
Customers & Markets
No operating customers or end markets as of the 10-Q filed May 13, 2026. The company is seeking an unidentified acquisition target to complete a business combination.
Source: SEC 10-Q, filed 2026-05-13
Financial Snapshot
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