Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 307

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1C
Chunk 307
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 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 the Company for the initial public offering (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, or October 27, 2024, 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 cancelled and converted into the right
to receive a number of Acquirer Ordinary Shares equal to the Exchange Ratio, as outlined in the Merger Agreement. The number of Acquirer
Ordinary Shares to be delivered by Acquirer to shareholders of Medera at the Closing is based on a net value of $622,560,000 for