Kairous Acquisition Corp. Ltd (KACLF): debt financing — Kairous Acquisition extends business combination deadline to Aug 16, 2023 via $120K trust deposit

Kairous Acquisition Corp. Ltd

Sponsor deposited $120,000 into trust account to extend completion period by one month.
New deadline to complete a business combination is August 16, 2023.
Company issued a non-interest-bearing promissory note convertible into ordinary shares at $10.10 per share at closing.
Extension provides additional time to consummate a business combination.
No other material changes reported; trust balance increased by the deposited amount.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Kairous Acquisition Corp. Ltd incurred loan of $120,000 with Kairous Asia Limited at does not bear interest maturing matures upon the closing of a business combination by the Company.

Instrument: loan
Principal: $120,000
Counterparty: Kairous Asia Limited
Rate: does not bear interest
Maturity: matures upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On June 30, 2023, Kairous Acquisition Corp. Limited (the “Company”) issued an unsecured promissory note in the aggregate principal amount of $120,000 (the “Note”) to Kairous Asia Limited, the Company’s initial public offering sponsor (“Sponsor”) in exchange for Sponsor depositing such amount into the Company’s trust account in order to extend the amount of time it has available to complete a business combination.

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Source: SEC EDGAR

accession 0001493152-23-023978

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