KPET Ultra Paceline Corporation (KPET.W) Warrant
Each KPET.W warrant gives the holder the right to buy 1 share of KPET Ultra Paceline Corporation at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.02, below the strike, so the warrant is out of the money. KPET Ultra Paceline Corporation has a market value of about $290.43M. KPET Ultra Paceline Corporation is a SPAC (no deal announced yet). It must complete a deal by April 1, 2028 or the warrants expire worthless. There are 3.83M listed warrants; exercising all of them would add 13.2% to the 28.98M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $12.10
From the issuer's S-1/A (2026-03-24).
Company and stock
- Company
- KPET Ultra Paceline Corporation
- Underlying stock
- KPET
- Share price
- $10.02
- Market cap
- $290.43M
- Shares outstanding
- 28.98M
- Range since May 2026
- $9.95 – $10.12
- Change since May 2026
- +0%
- Value of all listed warrants
- $2.30M (0.8% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Sioux Falls, SD
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.6000
- Price / model
Pro will show whether KPET.W is cheap or rich against our model. It is not open yet. Leave your email to hear when it is.
Dilution
- Shares outstanding
- 28.98M
- Listed warrants
- 3.83M
- Dilution if all exercised
- 13.2%
Warrant count from filing iXBRL: PublicWarrantsMember.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-04-01
- Latest possible deadline
- 2028-07-01
- Trust per share
- $10.06
- Sponsor
- KPET Ultra Paceline LLC
- Sponsor's earlier SPACs
- 0 (0 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about KPET.W
When does the KPET.W warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of KPET.W?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many KPET.W warrants are outstanding?
3.83M listed warrants, equal to 13.2% dilution if all are exercised.
Related warrants
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