Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 459

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 3
Chunk 459
---
 report, the Company has
extended four times by an additional one month each time, and so it now has until March 27, 2025 to consummate a business combination.
Pursuant to the terms of the current amended and restated memorandum and articles of association and the trust agreement between the Company
and Continental Stock Transfer & Trust Company, LLC, in order to extend the time available for the Company to consummate our initial
business combination, the Company’s insiders or their affiliates or designees, must deposit into the Trust Account $200,000 on
or prior to the date of the applicable deadline. On each of October 28, 2024, November 20, 2024, December 23, 2024, January 22, 2025 and
February 24, 2025, respectively, the Company has deposited in an amount of $200,000 into the Trust Account in order to extend the
amount of available time to complete a business combination until March 27, 2025.

Liquidation

If the Company is unable to complete a Business
Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly
as reasonably possible but no more than ten business days thereafter, redeem 100% of the outstanding public shares, at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned (net of taxes payable
and less interest to pay dissolution expenses up to $50,000), divided by the number of then outstanding public shares, which redemption
will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions,
if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of
the remaining shareholders and the Company’s board of directors, proceed to commence a voluntary liquidation and thereby a formal
dissolution of the Company, subject in each case to its obligations to provide for claims of creditors and the requirements of applicable
law. The underwriter has agreed to waive its rights to the deferred underwriting commission held in the Trust Account in the event the
Company does not complete a Business Combination within the Combination Period and, in such event, such amounts will be included with
the funds held in the Trust Account that will be available to fund the redemption of the public shares. In the event of such distribution