Kairos Acquisition Corp.
KAIRU
NASDAQ Capital Market10.06
USD
+0.00
- -
CIK
0001824171
ISIN
KYG521101223
Return %
Stock
S&P500
1Y
1.04
18.02
3Y
-1.34
64.11
5Y
-1.34
72.15
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 1345 Avenue of the Americas New York City NY United States of America 10105
- IPO Date
- Jan 6, 2021
- CIK
- 0001824171
- Website
- kairosacquisitioncorp.com
- Similar Companies
- Business
- Kairos Acquisition Corp. Kairos Acquisition Corp. (Ticker: KAIRU) operates as a blank check company whose principal business activity focuses on effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Incorporated in 2020 as a Cayman Islands exempted company and headquartered in New York, New York, with subsequent references to Norwalk, Connecticut, the company does not conduct significant operations of its own but maintains a trust account holding proceeds from its January 2021 initial public offering of units priced at $10.00 each, comprising Class A ordinary shares and redeemable warrants exercisable at $11.50 per share; its core "products" thus consist of these securities offered to public shareholders, enabling redemption rights upon business combination completion or liquidation, alongside private placement warrants sold to its sponsor. Kairos Acquisition Corp. originally targeted regulated insurance or reinsurance companies, distributors, technology providers, and insurance service firms specializing in niche lines, leveraging management expertise in insurance industry mergers and InsurTech; it now pursues fast-growing technology firms in sectors including e-commerce, financial technology, insurance technology, digital health, digital media, and digital services, prioritizing opportunities in Asia excluding China, with target enterprise values of $120 million to $300 million exhibiting at least 50% annual revenue or net profit growth. Geographically, the company emphasizes Southeast Asia's burgeoning digital economy, characterized by high GDP growth, a young population, and rising mobile internet penetration, while avoiding principal operations in China, Hong Kong, or Macau. Recent major developments include the company's initial public offering closure generating $276 million in gross proceeds following an over-allotment exercise; a failed 2022 merger attempt leading to announced liquidation plans ultimately averted through shareholder-approved extensions totaling up to 36 months from IPO; termination of a December 2022 merger agreement with Wellous Group Limited, an Asia-based nutrition firm, in June 2023; entry into an original merger agreement on September 30, 2023, with NR Instant Produce Public Company Limited and Bamboo Mart Limited involving a $188 million consideration adjusted via amendments on March 29, 2024, and July 18, 2024; execution of an amended and restated merger agreement on September 25, 2024, outlining a reincorporation merger with KAC Merger Sub 1 followed by an acquisition merger of Bamboo Mart, potentially yielding up to 8.55 million earnout shares tied to post-closing stock price milestones and Bamboo Group revenue targets of $122.8 million for 2025 and $170.2 million for 2026, with closing targeted no later than March 31, 2025; and multiple one-month trust extensions through September 2024 funded by $50,000 unsecured promissory notes to sponsor Kairous Asia Limited, sustaining operations amid ongoing business combination pursuits.
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