GlobeNewswire Inc. · Dec 16, 2021
Kairous Acquisition Corp. Closes $78.0 Million Initial Public Offering, Including Partial Exercise of the Overallotment Option
Malaysia, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Kairous Acquisition Corp. Limited (the “Company”), a newly organized blank check company incorporated as a Cayman Islands business company and led by Chief Executive Officer, Joseph Lee, today announced the closing of its initial public offering of 7,800,000 units at an offering price of $10.00 per unit, which includes 300,000 units issued pursuant to the partial exercise of the underwriter’s over-allotment option, for aggregate gross proceeds to the Company of $78,000,000. Each unit consists of one ordinary share, one half of one redeemable warrant, and one right to receive one-tenth (1/10) of an ordinary share. Each whole warrant entitles the holder thereof to purchase one ordinary share at a price of $11.50 per share, and each ten rights entitle the holder thereof to receive one ordinary share.. The units began trading on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “KACLU” on December 14, 2021. Once the securities comprising the units begin separate trading, the ordinary shares, warrants and rights will be traded on Nasdaq under the symbols “KACL,” “KACLW,” and “KACLR,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
