Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 1328

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 12
Chunk 1328
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price at which the Company issues ordinary shares or equity-linked securities. The “Fair Market Value” shall mean the volume
weighted average reported trading price of the ordinary shares for the twenty (20) trading days starting on the trading day prior to the
date of the consummation of the Business Combination.

The Private Warrants are identical to the Public
Warrants underlying the Public Units being sold in the Initial Public Offering except that Private Placement Units will not be transferable,
assignable or saleable until 30 days after the completion of the Company’s Business Combination and will be entitled
to registration rights.

NOTE 7 –
COMMITMENTS AND CONTINGENCIES

Risks and Uncertainties

Management continues to evaluate the impact of
the COVID-19 pandemic, the Russia-Ukraine war and the conflict in Israel and Palestine on the industry and has concluded that while it
is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations
and/or search for a target company, the specific impact is not readily determinable as of the date of these consolidated financial statements.
The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. 

Registration Rights

Pursuant
to a registration rights agreement entered into on July 24, 2023, the holders of the Founder Shares, Private Placement Units (including
securities contained therein), and units (including securities contained therein) that may be issued on conversion of working capital
loans or extension loans and are entitled to registration rights pursuant to a registration rights agreement signed on the effective date
of the Initial Public Offering requiring the Company to register such securities for resale. The holders of these securities are entitled
to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain
“piggy-back” registration rights with respect to registration statements filed subsequent to the Company’s completion
of initial business combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the
Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriter Agreement

The underwriters are entitled to a cash underwriting
discount of 2% of the gross proceeds of the Initial Public Offering, or $2,990,000, upon the closing of the Business Combination,
which is shown as deferred underwriting expenses on the accompanying consolidated balance sheets.

NOTE 8