Kairous Acquisition Corp. Limited Announces Additional Contribution To Trust Account To Extend Period To Consummate Business Combination
Portfolio Pulse from Benzinga Newsdesk
Kairous Acquisition Corp. Limited (NASDAQ:KACL) announced that its sponsor, Kairous Asia Limited, has deposited $120,000 into the company's trust account to extend the deadline for completing a business combination from June 16, 2023 to July 16, 2023.
June 15, 2023 | 1:26 pm
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NEUTRAL IMPACT
Kairous Acquisition Corp. (KACL) has extended its deadline for completing a business combination, providing more time for the company to finalize a deal.
The extension of the deadline for completing a business combination is a neutral event for KACL's stock price in the short term. While it provides more time for the company to finalize a deal, it does not guarantee a successful outcome. The additional contribution to the trust account is relatively small, and the promissory note conversion price of $10.10 per share is close to the typical SPAC IPO price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100