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Kairous Acquisition Pumps $50K into Trust for Another Month

February 20, 2024
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 Kairous Acquisition said its sponsor deposited $50,000 to extend the SPAC’s deadline by another month, to March 16. The company issued a promissory note to the sponsor for the amount.

Kairous in October announced a merger agreement with NR Instant Produce at an initial consideration of $300 million. Both sides agreed to an outside closing date of March 31.

The target is a Southeast Asian food manufacturer and distributor based in Thailand.

Kairous also agreed to have a minimum of $2 million in cash and at least $5 million in net tangible assets at closing.

The SPAC raised $70 million in a December 2021 IPO. Read more.

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