Company: KCHVR
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109292
Chunk: 17

Company: Kochav Defense Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 17
---
 to redemption amount 
        
     17,012,182 
  
    Class A Ordinary Shares subject to possible redemption, June 30, 2025 
     25,300,000  
     253,919,363 
  
    Plus: 

    Accretion of Class A Ordinary Shares to redemption amount 
        
     2,639,785 
  
    Class A Ordinary Shares subject to possible redemption, September 30, 2025 
     25,300,000  
    $256,559,148 

Rights

The
Company accounted for the Rights issued in connection with the Initial Public Offering and the Private Placement in accordance with the
guidance contained in FASB ASC Topic 815, “Derivatives and Hedging”. Accordingly, the Company evaluated and classified the
Public Rights under equity treatment at their assigned values. There are 25,300,000 Public Rights and 524,050 Private Placement Rights
outstanding as of September 30, 2025.

Net
Income Per Ordinary Share

The
Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” The Company has
two classes of Ordinary Shares: the Class A Ordinary Shares and the Company’s Class B ordinary shares, par value $0.0001 per
share (the “Class B Ordinary Shares”, and together with the Class A Ordinary Shares, the “Ordinary Shares”).
Income and losses are shared pro rata between the two classes of Ordinary Shares. This presentation assumes an initial Business Combination
as the most likely outcome. Net income per Ordinary Share is calculated by dividing the net income by the weighted average Ordinary Shares
outstanding for the respective period.

11

KOCHAV
DEFENSE ACQUISITION CORP.

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

At
September 30, 2025, the calculation of diluted net income per Ordinary Share does not consider the effect of the Rights in the calculation
of diluted income per Ordinary Share because their exercise is contingent upon future events. Accretion associated with the redeemable
Class A Ordinary Shares is excluded from earnings per share as the redemption value approximates fair value. At September 30, 2025, the
Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into Ordinary