Kairous Acquisition and Wellous Group Limited have mutually terminated their merger agreement, the SPAC disclosed in an 8-K filing. No reason was given for abandoning the deal.
No termination fee or other payment is due to either party.
The SPAC in December announced the deal with Malaysia-based Wellous Group, an asia-based international nutrition company that develops, manufactures, markets and sells health and wellness products.
Cash proceeds were to consist of Kairous's approximately $21 million in trust.