Kairous Acquisition Pours $360K into Trust for Extra 3 Months on Deadline

Kairous Acquisition said its sponsor deposited $360,000 into trust to extend the SPAC’s merger deadline from March 16 to June 16. The SPAC issued a convertible promissory note that would let the sponsor acquire shares at $10.10 each on any principal from the note.

The SPAC’s last extension began in December, when it announced a deal with Malaysia-based Wellous Group Limited, an Asia-based international nutrition company that develops, manufactures, markets and sells health and wellness products.

Cash proceeds on the deal will consist of Kairous’s approximately $21 million in trust, assuming no redemptions. Read more.

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