Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 28

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 Initial Public Offering).
As a result of the underwriters’ full exercise of their over-allotment option on July 27, 2023, no Founder Shares are currently
subject to forfeiture (see Note 7).

Warrants

Each holder of a warrant shall be entitled to
purchase one ordinary share at an exercise price of $11.50. Public Warrants may only be exercised for a whole number of shares. No fractional
shares will be issued upon exercise of the Public Warrants. The Public Warrants will become exercisable after the consummation of a Business
Combination. No Public Warrants will be exercisable for cash unless the Company has an effective and current registration statement covering
the ordinary shares issuable upon exercise of the Public Warrants and a current prospectus relating to such ordinary shares. The Company
has agreed that as soon as practicable after the closing of a Business Combination, the Company will use its best efforts to file, and
within 90 days following a Business Combination to have declared effective, a registration statement covering the ordinary shares issuable
upon exercise of the warrants. Notwithstanding the foregoing, if a registration statement covering the ordinary shares issuable upon the
exercise of the Public Warrants is not effective within 90 days, the holders may, until such time as there is an effective registration
statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise the Public
Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. If an exemption from registration
is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public Warrants will expire five
years from the consummation of a Business Combination or earlier upon redemption or liquidation.

The Company may call the warrants for redemption,
in whole and not in part, at a price of $0.01 per warrant:

●upon not less than 30 days’ prior written notice of redemption
to each warrant holder,

●if, and only if, the reported last sale price of the ordinary
share equals or exceeds $16.5 per share, for any 20 trading days within a 30 trading days period ending on the third trading day prior
to the notice of redemption to Public Warrant holders, and

●if, and only if, there is a current registration statement in
effect with respect to the issuance of the ordinary share underlying such warrants at the time of redemption and for the entire