Kairous Acquisition Corp. Limited, a special purpose acquisition company listed on the NASDAQ as KACL, announced today that their sponsor, Kairous Asia Limited, had made a deposit of $50,000 into the company’s trust account. This deposit was intended to extend the period for the company to complete a business combination by an additional month, from March 16, 2024, to April 16, 2024.
A promissory note was issued by the company to the sponsor for the deposited amount. The note will be converted into Kairous Acquisition Corp.’s ordinary shares at a price of $10.10 per share upon the closing of a business combination. The extension is designed to provide more time for the company to finalize a business combination and execute its strategic partnership goals in the marketplace.
Kairous Acquisition Corp. Limited is a blank check company that was formed with the goal of executing various types of mergers and acquisitions with one or more businesses. The company is focused on identifying opportunities for strategic partnerships in various sectors and industries, including technology and healthcare. It emphasizes that it is not obligated to publicly release updates or revisions to its forward-looking statements regarding potential future outcomes subject to risks and uncertainties in response to changing expectations or circumstances.
For more information about Kairous Acquisition Corp., individuals may contact Athiwat Apichotei at r@kairous.com.
This press release contains forward-looking statements that involve risks and uncertainties. These statements are not historical facts but instead forecast potential future outcomes subject to change due to external factors such as changes in market conditions or regulatory environment.
Investors are advised that no assurance can be given regarding whether any transactions will occur or if they will occur successfully or at any particular time or price.
The successful completion of an initial public offering (IPO) is mentioned as a specific forward-looking goal subject to potential challenges and obstacles such as changes in market conditions or regulatory environment.
It’s important for investors to carefully evaluate these statements before making investment decisions based on them.
Overall, this press release highlights how Kairous Acquisition Corp.’s sponsor has provided additional funding through a deposit into their trust account which could help extend their deadline for completing a business combination by one month from March 16th to April 16th while also allowing them more time to finalize negotiations with potential partners in various sectors and industries.
