It is due to release on Jun 22.
However, the scenario is not completely gloomy yet as the Ultimates imprint is a different entity from Marvel's larger universe. Whatever may happen to Ultimate Spiderman won't affect the other series, including Amazing Spiderman.
Brian Michael Bendis, the co-writer of Ultimate Spiderman, was quoted by Associated Press as saying, "He will pass heroically, but he will die at the hands of the Green Goblin."
Mark Paniccia, Marvel senior editor was quoted by the AP as saying, "Ten years ago, Brian Bendis and Mark Millar changed the way people saw super heroes with the birth of the Ultimate Universe. With 'Death of Spiderman' the two have done it again, creating a story just as big, and something that would really resonate with fans."
And added, "But Peter's death doesn't signal the end of their larger plan — it's the start of one of the most ambitious stories you've ever read in comics."
Calling the decision to let Peter Parker's die as an emotional one, Bendis was quoted as saying, "I won't lie to you, it's embarrassing to say this out loud. Tears were rolling down my face, I was very emotional in writing it. This is a character that I have stayed with the entire time, that I have been almost solely responsible for. It represents such a great deal of my life."
Wary about the consequences of Spiderman's death, Axel Alonso, Marvel's editor-in-chief said, "We've never seen a world without Spiderman, a world without Peter Parker, so his death is a significant event for the Ultimate Comics universe and we're going to see how quickly it changes everything."