Malaysia-based Wellous Group Limited, an Asia-based international nutrition company that develops, manufactures, markets and sells health and wellness products, and Kairous Acquisition today announced a definitive merger agreement.
Upon closing, the combined company will be renamed “Wellous Group Holdings Limited” (the “Combined Company”) and expects to list its ordinary shares on the Nasdaq.
The merger consideration is $270 million, payable by newly-issued securities at $10.10 per share. Additional earnout shares may be issued to Wellous stockholders after closing, upon achievement of certain trading price-based and/or profitability targets.
Cash proceeds raised will consist of Kairous’s approximately $21 million in trust (assuming no redemptions). Wellous shareholders are expected to retain majority control of the combined company. Read more.
