Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 73

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 $200,000 to the Sponsor, pursuant to which such amount has been deposited into the Trust
Account in order to extend the amount of available time to complete a business combination until July 27, 2025. On July 23, 2025, the
Company has deposited in an amount of $144,670 into the Trust Account in order to extend the amount of available time to complete a business
combination until August 27, 2025. The notes are non-interest bearing and are payable upon the closing of a business combination. In addition,
the notes may be converted, at the lender’s discretion, into additional Private Units at a price of $10.00 per unit. As of June
30, 2025 and December 31, 2024, the note payable balance was $1,800,000 and $600,000, respectively.

16

Advance from a Related Party

As of June 30, 2025 and December 31, 2024, the
Company had a temporary advance of $1,008,707 and $575,085 from the Sponsor, respectively. The balance is unsecured, interest-free and
has no fixed terms of repayment.

NOTE 6 – SHAREHOLDERS’ DEFICIT

Ordinary Shares

The Company is authorized to issue 500,000,000
ordinary shares at par $0.0001 per share. Holders of the Company’s ordinary shares are entitled to one vote for each share.

As of June 30, 2025 and December 31, 2024, 4,416,075
and 4,416,075 Ordinary Shares were issued and outstanding excluding 6,404,652 and 6,404,652 Ordinary Shares subject to possible redemption,
respectively, so that the initial shareholders will own 20% of the issued and outstanding shares after the Initial Public Offering (excluding
the sale of the Private Units and assuming the initial shareholders do not purchase any Units in the Initial Public Offering). As a result
of the underwriters’ full exercise of their over-allotment option on July 27, 2023, no Founder Shares are currently subject to forfeiture
(see Note 7).

Warrants

Each holder of a warrant shall be entitled to
purchase one ordinary share at an exercise price of $11.50. Public Warrants may only be exercised for a whole number of shares. No fractional
shares will be issued upon exercise of the Public Warrants. The