Kairous Acquisition in an amended S-1 said it will now offer 7.5 million units at $10 each, up from the 5 million it registered with the SEC in August.
A unit still consists of one ordinary share, one-half of a warrant and one right to receive one-tenth of a share upon the completion of a merger. Whole warrants would be exercisable for a share at $11.50.
Kairous in the filing said it would focus on opportunities in Asia.
The SPAC is led by Director, Chairman and CEO Joseph Lee Moh Hon, whpo since 2004 has been involved in private equity and venture capital investment. In 2006, Lee joined Kuwait Finance House (Malaysia) Bhd. as the pioneer team in setting up their private equity division and first Islamic private equity fund in Asia Pacific.
Sole book-running manager Maxim has an option to purchase up to 1.125 million additional units to cover over-allotments, if any.
The SPAC still intends to apply for a Nasdaq listing but has not yet selected a ticker symbol. Read more.
