Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 17

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 17
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 effectively redeemed by us under BVI law, the transfer agent will then update our Register
of Members to reflect all conversions. The proxy solicitation materials that we will furnish to shareholders in connection with the vote
for any proposed business combination will indicate whether we are requiring shareholders to satisfy such delivery requirements. Accordingly,
a shareholder will have from the time our proxy statement is mailed through the vote on the business combination to deliver his shares
if he wishes to seek to exercise his redemption rights. Under our amended and restated memorandum and articles of association, we are
required to provide at least 10 days’ advance notice of any shareholder meeting, which would be the minimum amount of time
a shareholder would have to determine whether to exercise redemption rights. As a result, if we require public shareholders who wish to
convert their ordinary shares into the right to receive a pro rata portion of the funds in the trust account to comply with the
foregoing delivery requirements, holders may not have sufficient time to receive the notice and deliver their shares for conversion. Accordingly,
investors may not be able to exercise their redemption rights and may be forced to retain our securities when they otherwise would not
want to.

12

There is a nominal cost associated
with this tendering process and the act of certificating the shares or delivering them through the DWAC System. The transfer agent will
typically charge the tendering broker $45, and it would be up to the broker whether or not to pass this cost on to the converting holder.
However, this fee would be incurred regardless of whether or not we require holders seeking to exercise redemption rights. The need to
deliver shares is a requirement of exercising redemption rights regardless of the timing of when such delivery must be effectuated. However,
in the event we require shareholders seeking to exercise redemption rights to deliver their shares prior to the consummation of the proposed
business combination and the proposed business combination is not consummated, this may result in an increased cost to shareholders.

Any request to convert or
tender such shares once made, may be withdrawn at any time up to the vote on the proposed business combination or expiration of the tender
offer. Furthermore, if a holder of a public share delivered his certificate in connection with an election of their conversion or tender
and subsequently decides prior to the vote on the business combination or the expiration of the tender offer not to elect to exercise
such rights, he may simply request that the transfer agent return the certificate (physically or electronically).

If the initial business