Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 1032

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 9A
Chunk 1032
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 Securities Act. If an exemption
from registration is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public Warrants
will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation.

The Company may call the warrants for redemption,
in whole and not in part, at a price of $0.01 per warrant:

●upon not less than 30 days’ prior written notice of redemption
to each warrant holder,

●if, and only if, the reported last sale price of the ordinary
share equals or exceeds $16.5 per share, for any 20 trading days within a 30 trading days period ending on the third trading day prior
to the notice of redemption to Public Warrant holders, and

●if, and only if, there is a current registration statement in
effect with respect to the issuance of the ordinary share underlying such warrants at the time of redemption and for the entire 30-day
trading period referred to above and continuing each day thereafter until the date of redemption.

If the Company calls the Public Warrants for redemption,
management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,”
as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be
adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization,
merger or consolidation. However, the warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price.
Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business
Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not
receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held
outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless.

F-18

KEEN VISION ACQUISITION
CORPORATION

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

In addition, if in connection with a Business
Combination, the Company (a) issues additional Ordinary Shares or equity-linked securities at an issue price or effective issue price
of less than $9.35 per share (with such