Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 80

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 80
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 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 100%
of Medera’s issued and outstanding ordinary shares, with each Acquirer Ordinary Share valued at $10.00. 

On October 25, 2024, the Company entered into
an amendment to the Investment Management Trust Agreement, with Continental Stock Transfer & Trust Company (the “Trust Amendment”).
Pursuant to the Trust Amendment, the Company has the right to extend the time for KVAC to complete its business combination (the “Business
Combination Period”) under the Trust Agreement for a period of nine months from October 27, 2024 to July 27, 2025, by depositing
into the Trust Account $200,000 for