Kairous Acquisition Corp. Limited announced a private placement of unsecured promissory note in the aggregate principal amount of $120,000, for gross proceeds of $120,000 on June 9, 2023. The transaction included participation from returning investor, Kairous Asia Limited.

The note does not bear interest and matures on July 16, 2023 that is 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.