Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 475

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 3
Chunk 475
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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 issue price or effective issue price as determined by the Company’s Board of Directors,
in good faith, and in the case of any such issuance to the Company’s initial stockholders, or their affiliates, without taking into
account any Founders’ Shares held by them prior to such issuance), (b) the aggregate gross proceeds from such issuances represent
more than 60% of the total equity proceeds, and interest thereon, available for the funding of the Business Combination on the date
of the consummation of such Business Combination (net of redemptions), and (c) the Fair Market Value (as defined below) is below $9.35 per
share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of (a) the Fair
Market Value or (b) the price at which the Company issues the ordinary shares or equity-linked securities, and the $16.50 per share
redemption trigger price will be adjusted (to the nearest cent) to be equal to 165% of the higher of the Fair Market Value and the
price at which the Company issues ordinary shares or equity-linked securities. The “Fair Market Value” shall mean the volume
weighted average reported trading price of the ordinary shares for the twenty (20) trading days starting on the trading day prior to the
date of the consummation of the Business Combination.

The Private Warrants are identical to the Public
Warrants underlying the Public Units being sold in the Initial Public Offering except that Private Placement Units will not be transferable,
assignable or saleable until 30 days after the completion of the Company’s Business Combination and will be entitled
to registration rights.

NOTE 7 –
COMMITMENTS AND CONTINGENCIES

Risks and Uncertainties

Management continues to evaluate the impact of
the COVID-19 pandemic, the Russia-Ukraine war and the conflict in Israel and Palestine on the industry and has concluded that while it
is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations
and/or search for a target company, the specific impact is not readily determinable as of the date of these consolidated financial statements.
The consolidated financial statements do not include any adjustments that might