Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 166

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 1A
Chunk 166
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Item 1A. Risk Factors

As a smaller reporting company, we are not required
to make disclosures under this Item.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds

On July 27, 2023, we consummated the Initial Public
Offering of 14,950,000 Units (including 1,950,000 over-allotment units), each Unit consisting of one ordinary share and one redeemable
warrant, for $10.00 per Unit, generating gross proceeds of $149,500,000. Each warrant entitles the holder thereof to purchase one share
of common stock at a price of $11.50 per share, subject to adjustment.

The securities in the Initial Public Offering,
including the exercise by the underwriters of the over-allotment option, were registered under the Securities Act on a registration statement
on Form S-1 (No. 333-269659). The SEC declared the registration statement effective on July 24, 2023.

On July 27, 2023, simultaneously with the closing
of the Initial Public Offering, we sold an aggregate of 678,575 Private Units in a private placement with the Sponsor, at a price of $10.00
per Private Unit, generating gross proceeds of $ 6,785,750. The Private Units are identical to the units sold in the Initial Public Offering,
except as otherwise disclosed in the registration statement. No underwriting discounts or commissions were paid with respect to such sale.

A total of $151,368,750 of the net proceeds from
the sale of the Units in the Initial Public Offering and the private placement of the Private Units on July 27, 2023, were deposited in
a trust account established for the benefit of the Company’s public stockholders at JPMorgan Chase Bank, N.A. maintained by Continental
Stock Transfer & Trust Company, acting as trustee.

For a description of the use of the proceeds generated
in our Initial Public Offering, see Part I, Item 2 – Management’s Discussion and Analysis of Financial Condition and Results
of Operations of this Quarterly Report.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None.

25

Item 6. Exhibits

The following exhibits are filed as part of, or
incorporated by reference into, this Quarterly Report.

    Exhibit No.
     
    Description