Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 1308

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 12
Chunk 1308
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If a shareholder vote is not required and the
Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its Amended and
Restated Memorandum and Articles of Association, offer such redemption pursuant to the tender offer rules of the Securities and Exchange
Commission (“SEC”), and file tender offer documents containing substantially the same information as would be included in
a proxy statement with the SEC prior to completing a Business Combination.

The shareholders will be entitled to redeem their
public shares for a pro rata portion of the amount then in the Trust Account (initially $10.125 per public share, subject to increase
of up to an additional $0.10 per public share per each three-month extension in the event that the Sponsor elects to extend the period
of time to consummate a Business Combination (see below), plus any pro rata interest earned on the funds held in the Trust Account and
not previously released to the Company to pay its tax obligations). The per-share amount to be distributed to shareholders who redeem
their public shares will not be reduced by the deferred underwriting commissions the Company will pay to the underwriter (as discussed
in Note 7). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants.
The Public Shares were recorded at redemption value and classified as temporary equity upon the completion of the Initial Public Offering,
in accordance with Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.”

The Company will proceed with a Business Combination
if (i) the Company has net tangible assets of at least $5,000,001 upon such consummation of a Business Combination or (ii) otherwise
the Company is exempt from the provisions of Rule 419 promulgated under the Securities Act of 1933, as amended; and, if the Company seeks
shareholder approval, a majority of the outstanding shares voted are voted in favor of the Business Combination. If a shareholder vote
is not required and the Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant
to its Amended and Restated Memorandum and Articles of Association, offer such redemption pursuant to the tender offer rules of the SEC,
and file tender offer documents containing substantially the same information as would be included in a proxy statement with the SEC prior
to completing a Business Combination.

F-8

KEEN VISION ACQUISITION