NEW YORK, Oct. 25, 2005 (PRIMEZONE) -- Key Hospitality Acquisition Corporation (OTCBB:KHPAU) today announced the pricing of its initial public offering of 6,000,000 units at a price of $8.00 per unit. Each unit consists of one share of common stock and one warrant. In addition, the underwriters have a 45-day option to purchase up to an additional 900,000 units from the Company at the initial public offering price less the underwriting discount. The units will trade on the OTC Bulletin Board under the symbol "KHPAU."
Maxim Group LLC acted as lead underwriter for the initial public offering. A copy of the final prospectus may be obtained from Maxim Group LLC, 405 Lexington Ave., New York, NY 10174.
Key Hospitality Acquisition Corporation is a blank check company recently formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other business combination with an operating business in the hospitality industry.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 20, 2005. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.