Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 6

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 the Company consummated the sale of 678,575 units (the “Private Placement Units”) at a price of $10.00 per
Private Placement Unit in a private placement to KVC Sponsor LLC (the “Sponsor”), generating gross proceeds of $6,785,750
to the Company. Each Private Placement Unit consists of one ordinary share (“Private Placement Share”) and one redeemable
warrant (“Private Warrant”) to purchase one ordinary share at an exercise price of $11.50 per whole share.

Transaction costs amounted to $6,597,980, consisting
of $2,990,000 of underwriting commissions, $2,990,000 of deferred underwriting commissions and $617,980 of other offering costs. In addition,
at July 27, 2023, cash of $1,593,452 was held outside of the Trust Account and is available for the payment of offering costs and for
working capital purposes. Cash of $151,368,750 was transferred to the Trust Account on July 27, 2023.

5

Trust Account

The aggregate amount of $151,368,750 ($10.125
per Public Unit) held in a trust account (“Trust Account”) established for the benefit of the Company’s public shareholders
and maintained by Continental Stock Transfer & Trust Company, acting as trustee, will be invested only in U.S. government treasury
bills, with a maturity of 185 days or less or in money market funds investing solely in U.S. Treasuries and meeting certain conditions
under Rule 2a-7 under the Investment Company Act of 1940, as amended (the “Investment Company Act”). Except with respect to
interest earned on the funds held in the Trust Account that may be released to the Company to pay its taxes, if any, the funds in the
Trust Account will not be released until the earliest of (i) the completion of the Company’s initial Business Combination, (ii)
the redemption of any public shares properly tendered in connection with a shareholder vote to amend the Company’s Amended and Restated
Memorandum and Articles of Association to (A) modify the substance or timing of the Company’s obligation to redeem 100% of its public
shares if the Company does not complete its initial Business Combination within nine months from the closing of the Initial Public Offering
(or up to 21 months from the closing of the Initial Public Offering if the Company extends the period of time to consummate a