Kairous Acquisition Corp. Limited (KACL) has released an update.
Kairous Acquisition Corp. Limited has been actively managing its financial strategy to secure more time for completing a business combination. The company issued a $50,000 unsecured promissory note to its IPO sponsor, Kairous Asia Limited, which will mature at the business combination’s closing and is convertible into ordinary shares at $10.10 each. Additionally, amendments to their Working Capital Note have increased the principal amount to $2,000,000 and extended the maturity date, underscoring the company’s efforts to strengthen its financial position as it seeks a favorable business merger.
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