Kairous Acquisition Corp. Limited Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination
Kuala Lumpur, Malaysia, Dec. 16, 2022 (GLOBE NEWSWIRE) — Kairous Acquisition Corp. Limited (NASDAQ:KACL, the “Company”), a special purpose acquisition company, announced today that Kairous Asia Limited, the Company’s initial public offering sponsor (“Sponsor”), has deposited into the Company’s trust account (the “Trust Account”) an aggregate of $360,000, in order to extend the period of time the Company has to complete a business combination for an additional three (3) months period, from December 16, 2022 to March 16, 2023. The Company issued a promissory note to Sponsor with a principal amount equal to the amount deposited. The promissory note bears no interest and is convertible into the Company’s units (with each unit consisting of one ordinary share, one-half of one warrant to purchase one ordinary share, and one right to receive one-tenth of one ordinary share upon the consummation of the Company’s initial business combination) at a price of $10.00 per unit at the closing of a business combination by the Company. The purpose of the extension is to provide time for the Company to complete a business combination.