Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 1403

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 14
Chunk 1403
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 for distribution will be less than the Initial Public Offering
price of $10.00 per Public Unit.

The Sponsor has agreed that it will be liable
to the Company, if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a prospective target
business with which the Company has discussed entering into a transaction agreement, reduce the amounts in the Trust Account to below
(i) $10.125 per share or (ii) such lesser amount per public share held in the Trust Account as of the date of the liquidation of
the Trust Account due to reductions in the value of the trust assets, except as to any claims by a third party who executed a waiver of
any and all rights to seek access to the Trust Account and except as to any claims under the Company’s indemnity of the underwriters
of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities
Act”). In the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible
to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have
to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers, prospective target businesses
or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim
of any kind in or to monies held in the Trust Account.

F-10

KEEN VISION ACQUISITION
CORPORATION

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

Liquidity
and going concern

At December 31, 2024, the Company has generated
a working capital deficit of $1,205,512 and net income of $7,409,180 for the year ended December 31, 2024. The Company has incurred
and expects to continue to incur significant costs in pursuit of its financing and acquisition plans. The Company initially had nine months
from the consummation of the Initial Public Offering to consummate the initial Business Combination. If the Company does not complete
a Business Combination within nine months from the consummation of the Initial Public Offering, the Company will trigger an automatic
winding up, dissolution and liquidation pursuant to the terms of the Amended and Restated Memorandum and Articles