Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 75

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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ization, reorganization,
merger or consolidation. However, the warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price.
Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business
Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not
receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held
outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless.

17

In addition, if in connection with a Business
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