Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 12

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 able to consummate a Business
Combination within nine months (the “Combination Period”), the Company may extend the period of time to consummate a Business
Combination up to four times, each by an additional one month each time (for a total of 24 months including Automatic Extension Period)
by depositing into the Trust Account $200,000 (approximately $0.10 per share per each month extension) to complete a Business
Combination (the “Paid Extension Period”). Any funds which may be provided to extend the time frame will be in the form of
a loan to the Company from the Sponsor. The terms of any such loan have not been definitively negotiated, provided, however, any loan
will be interest free and will be repayable only if the Company completes a Business Combination.

On July 22, 2025, the Company entered into an
amendment to the Investment Management Trust Agreement, with Continental Stock Transfer & Trust Company (the “Trust Amendment
II”). Pursuant to the Trust Amendment II, the Company has the right to extend the time for KVAC to complete its business combination
(the “Business Combination Period”) under the Trust Agreement II for a period of nine months from July 27, 2025 to January
27, 2026, by depositing into the Trust Account $0.03 for each remaining public shares (the “Extension Payment”) for each
one-month extension.

On July 22, 2025, in connection with the stockholders
vote at the Annual Meeting, 1,582,306 shares were redeemed by certain shareholders at a price of approximately $11.43 per share,
including interest generated and extension payments deposited in the Trust Account, in an aggregate amount of $18,091,743.

As of the date of this report, the Company has
extended thirteen times by an additional one month each time, and so it now has until November 27, 2025 to consummate a business combination.
Pursuant to the terms of the current amended and restated memorandum and articles of association and the trust agreement between the Company
and Continental Stock Transfer & Trust Company, LLC, in order to extend the time available for the Company to consummate the initial
business combination, the Company’s insiders or their affiliates or designees, must deposit into the Trust Account $200,000 on
or prior to the date of the applicable deadline. On each of October 28, 2024, November