Kairous Acquisition Corp. Limited Extends Business Combination Period with Sponsor’s Contribution

Singapore, December 18, 2024 (GLOBE NEWSWIRE) — Kairous Acquisition Corp. Limited (NASDAQ: KACL, the “Company”), a special purpose acquisition company, announced today that it has extended the time available to complete a business combination. The Company’s initial public offering sponsor, Kairous Asia Limited, deposited $50,000 into the Company’s trust account (the “Trust Account”), facilitating an additional one (1) month period for the Company from December 16, 2024, to January 16, 2025. In exchange for this deposit, the Company issued a promissory note to the Sponsor with a principal amount equal to the deposited sum. The note does not bear interest and is structured to be converted into the Company’s ordinary shares at a rate of $10.10 per share upon the successful closure of a business combination.

The purpose behind this extension is to provide Kairous Acquisition Corp. Limited with the necessary time to finalize a business combination. The initiative follows shareholders’ approval at the recent Annual Meeting of Shareholders on December 6, 2024. During the meeting, shareholders endorsed key amendments that allow the Company to extend the deadline for completing a business combination multiple times until June 16, 2025.

Kairous Acquisition Corp. Limited, a blank check company, was established to facilitate mergers, share exchanges, asset acquisitions, or similar business combinations with one or more entities. The recent developments aim to enhance the Company’s ability to pursue strategic partnerships in line with its objectives.

This latest move marks a significant step for Kairous Acquisition Corp. Limited, aligning its operational activities with evolving market conditions and stakeholder expectations. The Company’s commitment to expanding its potential for future business combinations signals a proactive approach to maximizing shareholder value and exploring growth opportunities.

Investors and market participants are encouraged to follow Kairous Acquisition Corp. Limited’s progress closely as it navigates the dynamic landscape of business combinations and strategic partnerships within the financial markets.

The press release contains forward-looking statements that are inherently subject to risks and uncertainties, and as such, actual results may vary from these forward-looking statements. The Company has expressly disclaimed any obligations to update or revise forward-looking statements to reflect changes in expectations or circumstances.

Please note that investor relations queries can be directed to Athiwat Apichote via [email protected].

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kairous Acquisition’s 8K filing here.

Kairous Acquisition Company Profile

Kairous Acquisition Corp. Limited does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus on opportunities in Asia, excluding China.