Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 476

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 3
Chunk 476
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 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 –
SUBSEQUENT EVENTS

In accordance with ASC Topic 855, Subsequent
Events, which establishes general standards of accounting for and disclosure of events that occur after the consolidated balance sheet
date, the Company has evaluated all events or transactions that occurred after the consolidated balance sheet date.

On January 22, 2025 the Company issued an unsecured
promissory note in an amount of $200,000 to the Sponsor, pursuant to which such amount had been deposited into the Trust Account
in order to extend the amount of available time to complete a business combination until February 27, 2025.

On February 24, 2025 the Company issued an unsecured
promissory note in an amount of $200,000 to the Sponsor, pursuant to which such amount had been deposited into the Trust Account
in order to extend the amount of available time to complete a business combination until March 27, 2025.

F-19

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    2024-01-01
    2024-12-31