Company: KVACU
Filing Date: 2025-06-23
Form Type: PRE 14A
Source: 0001213900-25-056680
Chunk: 12

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-06-23
Form: PRE 14A
Chunk 12
---
='center'>8

BACKGROUND</div>

We are a blank check company
incorporated as a British Virgin Islands business company and incorporated for the purpose of effecting a merger, share exchange, asset
acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

On July 27, 2023, we consummated
the Initial Public Offering of 14,950,000 ordinary units (the “Public Units”), which includes the full exercise by the underwriter
of its over-allotment option in the amount of 1,950,000 Public Units, at $10.00 per Public Unit, generating gross proceeds of $149,500,000.
Simultaneously with the closing of the Initial Public Offering, we consummated the sale of 678,575 units (the “Private Placement
Units”) at a price of $10.00 per Private Placement Unit in a private placement to KVC Sponsor LLC (the “Sponsor”), generating
gross proceeds of $6,785,750.

Following
the Initial Public Offering and the exercise of the over-allotment option, a total of $151,368,750 was placed in the Trust Account. We
incurred $6,597,980 in initial public offering related costs, including $2,990,000 of underwriting fees, $2,990,000 of deferred underwriting
fees and $617,980 of initial public offering costs. We held our 2024 annual meeting of shareholders on October 25, 2024. In connection
with the shareholders’ vote at the annual meeting, 8,545,348 shares were tendered for redemption.

Our sponsor owns approximately
39.5% of our issued and outstanding ordinary shares as of June 26, 2025. The net proceeds of the IPO plus the proceeds of the sale of
the private placement units were deposited in the trust account. As of May 31, 2025 , there was approximately $72,614,208.18 in the trust
account.

On the Record Date, 10,820,727
ordinary shares were issued and outstanding. The aggregate market value of the ordinary shares outstanding, other than shares held by
persons who may be deemed affiliates of the Company, computed by reference to the closing sales price for the ordinary shares on [__],
2025, as reported on The Nasdaq Capital Market, was approximately $[_____].

The mailing address of KVAC’s
principal executive