Kairous Acquisition Corp. Ltd (KACLF): debt financing — Kairous Acquisition Corp. deposits $120k to extend business combination deadline to Oct 16, 2023

Kairous Acquisition Corp. Ltd

Sponsor deposited $120,000 into trust to extend deadline by one month, from Sep 16 to Oct 16, 2023.
Company issued non-interest-bearing promissory note convertible into ordinary shares at $10.10/share upon business combination.
Extension provides additional time for the Company to complete a business combination.

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 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: upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On September 11, 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. The Note does not bear interest and matures upon the closing of a business combination by the Company.

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Kairous Acquisition Corp. Ltd filing history →

Source: SEC EDGAR

accession 0001493152-23-032573

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