Company: KVACU
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001213900-25-043269
Chunk: 78

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 78
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 established for the purpose of
facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements, established any special
purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities.

Registration Rights

Pursuant to a registration rights agreement entered
into on July 24, 2023, the holders of the Founder Shares, Private Placement Units (including securities contained therein), and units
(including securities contained therein) that may be issued on conversion of working capital loans or extension loans and are entitled
to registration rights pursuant to a registration rights agreement signed on the effective date of this offering requiring the Company
to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form
demands, that the Company’s register such securities. In addition, the holders have certain “piggy-back” registration
rights with respect to registration statements filed subsequent to the Company completion of initial business combination and rights to
require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses
incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The underwriters are entitled to a cash underwriting
discount of 2% of the gross proceeds of the Initial Public Offering, or $2,990,000, upon the closing of the Business Combination.

4

Critical Accounting Policies

The preparation of unaudited condensed consolidated
financial statements and related disclosures in conformity with U.S. GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements,
and income and expenses during the periods reported. Actual results could materially differ from those estimates. We have not identified
any significant critical accounting estimates. We have identified the following significant accounting policies:

Ordinary Shares Subject to Possible Redemption

We account for our ordinary shares subject
to possible redemption in accordance with the guidance in ASC 480. Ordinary shares subject to mandatory redemption (if any) are
classified as a liability instrument and are measured at fair value. Conditionally redeemable ordinary shares (including ordinary
shares that feature redemption rights that are either within the control of the holder or subject to redemption upon the occurrence
of uncertain events not solely within our control)