Ivan Martynov
Malaysian SPAC Kairous Acquisition Corp. (KACLU) (NASDAQ:KACL) plans to merge with health food and wellness products provider Wellous Group.
Under the deal, Kairous will pay $270M in stock of the combined company. Wellous shareholders may also receive additional earnout shares post-closing if the company hits certain trading price and/or profitability targets. Shares of the combined company are expected to trade on Nasdaq.
Also based in Malaysia, Wellous is a manufacturer and marketer of nutrition and wellness products, primarily for the Asia-Pacific market.
Kairous went public in December 2021 through an initial public offering, raising $78M.