Keyarch Acquisition Corporation Convenes EGM to Approve Merger with Zooz Power Ltd., SEC Greenlights Form F-4

NEW YORK, N.Y., March 19, 2024 (GLOBE NEWSWIRE) — Keyarch Acquisition Corporation (Nasdaq:KYCH), a special purpose acquisition company, also known as SPAC, has formally announced a forthcoming Extraordinary General Meeting (EGM) of its shareholders. The EGM agenda features a critical vote on the proposed business combination with Zooz Power Ltd., an innovative leader in the field of energy storage and flywheel technology that enhances electric vehicle (EV) charging capabilities.

Pathway to a Pioneering Partnership

Keyarch's intended merger with Zooz Power aims to bring forth a synergy between Keyarch’s investment acumen and Zooz Power's technologically-advanced solutions. Zooz Power's flywheel-based systems provide a significant leap in power sustainability, especially within the burgeoning EV market, addressing the challenge of power instability during the charging process.

Timely Regulatory Approval

Adding to the momentum, Keyarch has also announced that their registration statement on Form F-4 as submitted to the United States Securities and Exchange Commission (SEC), has been declared effective. This marks a pivotal step in the merger process, signaling compliance with necessary regulatory frameworks and inching closer to completion of the acquisition.

Forward-Looking Strategy

The union of Keyarch and Zooz Power is a testament to the SPAC's vision of investing in sustainable and profitable futuristic technologies. The successful business combination is set to create a formidable entity within the renewable energy sector, potentially propelling both entities to heightened corporate growth and market expansion.

Keyarch, Zooz, Merger