Company: KCHVR
Filing Date: 2025-07-09
Form Type: 10-Q
Source: 0001213900-25-062351
Chunk: 15

Company: Kochav Defense Acquisition Corp.
Filing Date: 2025-07-09
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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iii) waive their rights to liquidating distributions from the Trust Account with
respect to their founder shares if the Company fails to complete the initial Business Combination within the Completion Window, although
they will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails
to complete the initial Business Combination within the Completion Window and to liquidating distributions from assets outside the Trust
Account; and (iv) vote any founder shares held by them and any public shares purchased during or after the Initial Public Offering (including
in open market and privately-negotiated transactions) in favor of the initial Business Combination.

9

KOCHAV DEFENSE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On January 7, 2025, the Sponsor made a capital
contribution of $25,000, or approximately $0.007 per share, for which the Company issued 3,835,000 Class B ordinary shares, known as founder
shares (“Founder Shares”), to the Sponsor. On April 3, 2025, the Company issued an additional 4,598,333 Founder Shares to
the Sponsor in a share capitalization, resulting in the Sponsor holding an aggregate of 8,433,333 Founder Shares. As a result, the Sponsor
paid approximately $0.003 per Founder Share. Up to 1,100,000 of the Founder Shares were subject to surrender by the Sponsor for no consideration
depending on the extent to which the underwriters’ over-allotment was exercised. As a result of the full exercise of the over-allotment
option by the underwriter at the closing of the Initial Public Offering, the 1,100,000 Founder Shares are no longer subject to forfeiture.

On May 6, 2025, the Sponsor granted membership
interests equivalent to an aggregate of 60,000 Founder Shares (20,000 Founder Shares each) to the three independent directors of the Company
in exchange for their services as independent directors through the Company’s initial Business Combination. In addition, on May
6, 2025, the Sponsor granted membership interests equivalent to 10,000 Founder Shares to the Chief Financial Officer in exchange for services
through the Company’s initial Business Combination. The Founder Shares, represented by such membership interests, will remain with