Kairous announces contribution to trust account to extend deal period

Kairous Acquisition Corp. Limited announced that Kairous Asia Limited, the company’s initial public offering sponsor, has deposited into the company’s trust account an aggregate of $120,000, in order to extend the period of time the company has to complete a business combination for an additional one month period, from November 16, 2023 to December 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 will be converted into the company’s ordinary shares at a price of $10.10 per share 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.