Brief: Wellous Group Enters Into A Definitive Merger Agreement With Kairous Acquisition Corporation

Kairous Acquisition

13/12/2022 13:10

Dec 13 (Reuters) - Kairous Acquisition Corp Ltd
 KACL.O :
    * WELLOUS, A WELLNESS AND NUTRITION COMPANY IN SOUTHEAST
ASIA,
ENTERS INTO A DEFINITIVE MERGER AGREEMENT WITH KAIROUS
ACQUISITION CORPORATION LIMITED (NASDAQ: KACL)
    * KAIROUS ACQUISITION CORP LTD - UPON CLOSING, COMBINED CO
WILL BE
RENAMED "WELLOUS GROUP HOLDINGS LIMITED"; EXPECTS TO LIST
ORDINARY SHARES ON NASDAQ
    * KAIROUS ACQUISITION CORP LTD - AS PROVIDED IN MERGER
AGREEMENT,
MERGER CONSIDERATION IS $270 MILLION
    * KAIROUS ACQUISITION CORP LTD - AFTER CLOSING, WELLOUS
SHAREHOLDERS ARE EXPECTED TO RETAIN A MAJORITY OF OUTSTANDING
SHARES OF COMBINED COMPANY
    * KAIROUS ACQUISITION CORP LTD -  AFTER CLOSING, WELLOUS
WILL
DESIGNATE A MAJORITY OF PROPOSED DIRECTORS FOR COMBINED
COMPANY'S BOARD
    * KAIROUS ACQUISITION CORP LTD - WELLOUS MANAGEMENT TEAM,
LED BY
ITS CO-FOUNDERS ANDY TAN AND HENRY CHIN, WILL CONTINUE TO RUN
COMBINED CO AFTER CLOSING

Source text for Eikon:  ID:nGNX8nsZKq 
Further company coverage:  KACL.O 
 ((Reuters.Briefs@thomsonreuters.com;))