Company: KCHVR
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076631
Chunk: 99

Company: Kochav Defense Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 99
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 of $253,000,000. he Public Units
consist of one Public Share and one Public Right. Simultaneously with the closing of the Initial Public Offering, we consummated the sale
of 524,050 Private Placement Units at a price of $10.00 per Private Placement Unit, to the Sponsor, generating gross proceeds of $5,240,500.
Each Private Placement Unit consist of one Private Placement Share and one Private Placement Right.

Following the Initial Public Offering, the full
exercise of the Over-Allotment Option, and the Private Placement, a total of $253,000,000 was placed in the Trust Account. We incurred
costs of $11,024,267, consisting of $3,415,500 of cash underwriting fee, $6,957,500 of Deferred Fee and $651,267 of other offering costs.

For the period from January 7, 2025 (inception)
through June 30, 2025, cash used in operating activities was $272,975. Net income of $776,441 was effected by dividends earned on investments
held in Trust Account of $919,363 and payment of operation costs through the IPO Promissory Note of $53,945. Changes in operating assets
and liabilities provided $183,998 of cash for operating activities.

The Sponsor agreed to loan us an aggregate of
up to $300,000 to be used for a portion of the expenses of the Initial Public Offering pursuant to the IPO Promissory Note. The loan was
non-interest bearing, unsecured and due at the earlier of December 31, 2025 or the closing of the Initial Public Offering. As of
June 30, 2025, we borrowed $207,494 under the IPO Promissory Note. Subsequently, we borrowed an aggregate total of $207,494 and repaid
the full amount of $207,494 on June 2, 2025. Borrowings under the IPO Promissory Note are no longer available.

We intend to use substantially all of the investments
held in the Trust Account, including any amounts representing dividends earned on the Trust Account (less income taxes payable, if any),
to complete our Business Combination. To the extent that our share capital or debt is used, in whole or in part, as consideration to complete
our Business Combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of
the target business or businesses