EX-99.1 3 ex99-1.htm Exhibit 99.1 Kairous Acquisition Corp. Limited Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination Singapore, February 18, 2025 (GLOBE NEWSWIRE) - Kairous Acquisition Corp. Limited (OTCPINK: KACL, the “Company”), a special purpose acquisition company, announced today that Kairous Asia Limited, the Company’s initial public offering sponsor (“Sponsor”), has deposited into the Company’s trust account (the “Trust Account”) an aggregate of $50,000, in order to extend the period of time the Company has to complete a business combination for an additional one (1) month period, from February 16, 2025 to March 16, 2025. The Company issued a promissory note to Sponsor with a principal amount equal to the amount deposited. The promissory note bears no interest and will be converted into the Company’s ordinary shares at a price of $10.10 per share at the closing of a business combination by the Company. The purpose of the extension is to provide time for the Company to complete a business combination. About Kairous Acquisition Corp. Limited Kairous Acquisition Corp. Limited is a blank check company formed for the pu…
Open exhibit ↗Current Report · Items 1.01, 2.03, 8.01, 9.01 · 8-K
KAIROUS ACQUISITION CORP LTD
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Other Events
Item 1.01 Entry into a Material Definitive Agreement On February 14, 2025, 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 or…
Company context
Current securities
Disclosure sections
Item 1.01Item 1.01 - Entry into Material Agreement
Item
1.01 Entry into a Material Definitive Agreement
On
February 14, 2025, 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. In addition, the Note will be converted by the holder into ordinary shares of the Company
at a price of $10.10 per share at the closing of a business combination. A copy of the Note is attached hereto as Exhibit 10.1.
Item 2.03Item 2.03 - Creation of Direct Financial Obligation
Item
2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The
disclosure contained in Item 1.01 is incorporated by reference in this Item 1.01.
Item 8.01Item 8.01 - Other Events
Item
8.01. Other Events.
The
Company extended the business combination period to March 16, 2025, by depositing $50,000 to the trust account on February 14, 2025.
The Company issued the release filed herewith on February 18, 2025. The materials attached as Exhibit 99.1 are incorporated by
reference herein.