Company: KVACU
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043269
Chunk: 135

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 2
Chunk 135
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 technology platform for novel drug discovery; and ii) the development of next-generation cell and
gene therapies for a range of difficult-to-treat or incurable diseases. With a pipeline of therapeutic candidates, the Target’s
several experimental gene therapies have already obtained U.S. Food and Drug Administration (“FDA”) Investigational New Drug
(IND) approvals as ongoing clinical trials at multiple premier hospitals in the U.S. with active patient enrolments. The LOI is non-binding
and no agreement providing for any Proposed Transaction or any other transaction or the participation by either party therein will be
deemed to exist unless and until definitive agreements have been executed.

Pursuant to the IPO prospectus dated July 24,
2023 (Registration No. 333-269659) filed by KVAC for the IPO, the Company is entitled to an automatic six-month extension to complete
a business combination (the “Automatic Extension Period”) after the execution of the LOI and has 15 months from the closing
of its IPO to complete its initial business combination period.

On September 3, 2024, the Company has entered
into merger agreement (“Merger Agreement”) with Medera Inc. (“Medera”). The Company will incorporate a Cayman
Islands exempted company (“Acquirer”) to be a direct wholly-owned subsidiary of the Company for the purpose of the merger
of Company with and into the Acquirer (the “Reincorporation Merger”), in which Acquirer will be the surviving entity. Acquirer
upon its incorporation will form a Cayman Islands exempted company to be a direct wholly-owned subsidiary of Acquirer (“Merger Sub”)
for the purpose of effectuating the Acquisition Merger. Upon the terms and subject to the conditions of the Merger Agreement, (a) The
Company will reincorporate by merging with and into the Acquirer, in which the Acquirer will be the surviving company and the Company
will cease to exist, and (b) promptly after the Reincorporation Merger, the parties intend to effect a merger of Merger Sub with and into
Medera, in which Medera will be the surviving entity (the “Acquisition Merger”, together with the Reincorporation Merger,
the “Mergers” and together with the other transactions related thereto, the “Proposed Business Combination”).

At the effective time of the Acquisition Merger,
each outstanding Medera Ordinary Share (excluding treasury shares and dissenting shares) will be