Kairous Acquisition Corp. Ltd (KACLF): debt financing — Kairous Acquisition Corp. extends business combination deadline to Nov 16, 2023 with $120k sponsor note

Kairous Acquisition Corp. Ltd

Sponsor deposited $120,000 into trust to extend business combination period by one month.
Promissory note bears no interest, converts to shares at $10.10/share upon deal closing.
Deadline extended from October 16, 2023 to November 16, 2023.
Company continues to seek a business combination target.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Kairous Acquisition Corp. Ltd incurred loan of $120,000 with Kairous Asia Limited maturing upon the closing of a business combination by the Company.

Instrument: loan
Principal: $120,000
Counterparty: Kairous Asia Limited
Maturity: upon the closing of a business combination by the Company
Event: incurrence

Exact text from the filing

On October 10, 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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Kairous Acquisition Corp. Ltd filing history →

Source: SEC EDGAR

accession 0001493152-23-036995

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