Kairous Acquisition Corp. Ltd (KACLF): debt financing — Kairous Acquisition Corp extends business combination deadline to April 16, 2024 via $50,000 sponsor loan

Kairous Acquisition Corp. Ltd

Sponsor Kairous Asia deposited $50,000 into trust account; note converts to ordinary shares at $10.10 per share.
Business combination period extended one month from March 16 to April 16, 2024.
Promissory note bears no interest and matures upon closing of a business combination.
Company remains a blank check SPAC seeking a target for combination.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.98

Kairous Acquisition Corp. Ltd incurred loan of $50,000 with Kairous Asia Limited at does not bear interest maturing upon the closing of a business combination.

Instrument: loan
Principal: $50,000
Counterparty: Kairous Asia Limited
Rate: does not bear interest
Maturity: upon the closing of a business combination
Event: incurrence

Exact text from the filing

On March 15, 2024, Kairous Acquisition Corp. Limited (the “Company” or “Kairous”) issued an unsecured promissory note in the aggregate principal amount of $50,000 (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 0001493152-24-010616

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