Kairous Acquisition Corp. Limited announced a private placement of unsecured convertible promissory note in the aggregate principal amount of $120,000 on October 10, 2023. The transaction included participation from returning investor Kairous Asia Limited.

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.