Nutrition firm Wellous enters SPAC deal with Kairous Acquisition for $270 M

A merger agreement has been signed between Wellous, a nutrition company with headquarters in Malaysia, and Kairous Acquisition Corp Ltd. Wellous will list publically on Nasdaq when this purchase is finished.

The newly issued stocks of the combined company, which will be priced at US $10.10 per share, will be used to pay the $270 million merger consideration. There will also be monetary profits from the purchase, consisting of the roughly $21 million in a trust held by Kairous.

Through its tech-enabled platform, the business, which was founded in 2016 by Andy Tan and Henry Chin, develops, produces, distributes, and sells health foods and wellness supplements.

It offers a variety of goods under its ten listed brands, which range from its Immority anti-aging formulation to its Zenso weight management supplements.

By 2028, the market for dietary supplements will have grown to US $240.9 billion, with a compound annual growth rate of 8.5%.