Kairos Acquisition Corp. Announces Pricing of $240 Million Upsized Initial Public Offering
January 05 2021 - 9:13PM
Kairos Acquisition Corp. (the “Company”) announced today the
pricing of its initial public offering of 24,000,000 units at a
price of $10.00 per unit. The units will be listed on The Nasdaq
Capital Market (the “Nasdaq”) and trade under the ticker symbol
“KAIRU” beginning on January 6, 2021. Each unit consists of one
Class A ordinary share and one-half of one redeemable warrant, with
each whole warrant exercisable to purchase one Class A ordinary
share at a price of $11.50 per share. After the securities
comprising the units begin separate trading, the Class A ordinary
shares and warrants are expected to be listed on Nasdaq under the
symbols “KAIR” and “KAIRW,” respectively. The offering is expected
to close on January 8, 2021.
Kairos Acquisition Corp. is a blank check company incorporated
for the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue a business combination target in any business or industry,
the Company intends to focus on regulated insurance or reinsurance
companies, distributors or technology and insurance service
providers that focus on specialty lines of business or that target
product or customer niches. The Company is led by Chief Executive
Officer, Peter Bang and Chief Financial Officer, Jerry de St.
Paer.
Citigroup Global Markets Inc. is acting as the sole-book
running manager of the offering. I-Bankers Securities, Inc. is
acting as the co-manager of the offering. The Company has granted
the underwriters a 45-day option to purchase up to an additional
3,600,000 units at the initial public offering price to cover
over-allotments, if any.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
(the “SEC”) on January 5, 2021. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus relating to this offering may
be obtained by contacting Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, tel:
800-831-9146; or I-Bankers Securities, Inc. at 535 5th Ave., 4th
Floor, New York, NY 10017.
Cautionary Note Concerning Forward-Looking
Statements This press release contains statements that
constitute “forward-looking statements,” including with respect to
the initial public offering and search for an initial business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s registration
statement for the initial public offering filed with the SEC.
Copies are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact Peter Bang 917-783-4057
Pbang@ergcapitalpartnes.com
Kairos Acquisition (NASDAQ:KAIRW)
Historical Stock Chart
From Nov 2024 to Dec 2024
Kairos Acquisition (NASDAQ:KAIRW)
Historical Stock Chart
From Dec 2023 to Dec 2024