Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 26

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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from the date that the Company’s securities are first listed on NASDAQ through the earlier of the Company’s consummation of
a Business Combination and its liquidation, to make available to the Company certain general and administrative services, including office
space, administrative and support services, as the Company may require from time to time. The Company has agreed to pay the affiliate
of the Sponsor $10,000 per month for these services commencing on the closing date of the Initial Public Offering for 15 months (or
up to 21 months including Automatic Extension Period). As of September 30, 2025 and December 31, 2024, the balance of unpaid services
fee was $90,000 and $0, respectively, and is presented in amount due to a related party in the accompanying unaudited condensed consolidated
balance sheets. For the nine months ended September 30, 2025 and 2024, the Company incurred $90,000 and $90,000 in fees for
these services, respectively. For the three months ended September 30, 2025 and 2024, the Company incurred $30,000 and $30,000 in
fees for these services, respectively and is included in formation and operating costs in the accompanying unaudited condensed consolidated
statements of income and comprehensive income.

Related Party Extensions Loan

The Company will have to consummate a Business
Combination by November 27, 2025. However, if the Company anticipates that it may not be able to consummate a Business Combination within
21 months (including automatic extension period), the Company may extend the period of time to consummate a Business Combination up to
four times, four times by an additional one month each time to complete a Business Combination. The Sponsor or its affiliates or designees
will receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid in the
event that the Company are unable to close a Business Combination unless there are funds available outside the Trust Account to do so.
Such notes would either be paid upon consummation of the initial Business Combination or at the lender’s discretion, converted upon
consummation of the Business Combination into additional private units at a price of $10.00 per unit.

On each of October 28, 2024, November 20, 2024,
December 23, 2024, January 22