Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 83

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 reincorporate by merging with and into the Acquirer, in which the Acquirer will be the surviving company and the Company
will cease to exist, and (b) promptly after the Reincorporation Merger, the parties intend to effect a merger of Merger Sub with and into
Medera, in which Medera will be the surviving entity (the “Acquisition Merger”, together with the Reincorporation Merger,
the “Mergers” and together with the other transactions related thereto, the “Proposed Business Combination”).

At the effective time of the Acquisition Merger,
each outstanding Medera Ordinary Share (excluding treasury shares and dissenting shares) will be cancelled and converted into the right
to receive a number of Acquirer Ordinary Shares equal to the Exchange Ratio, as outlined in the Merger Agreement. The number of Acquirer
Ordinary Shares to be delivered by Acquirer to shareholders of Medera at the Closing is based on a net value of $622,560,000 for 100%
of Medera’s issued and outstanding ordinary shares, with each Acquirer Ordinary Share valued at $10.00.

On each of October 28, 2024, November 20, 2024,
December 23, 2024, January 22, 2025, February 24, 2025, March 24, 2025, April 25, 2025, May 20, 2025 and June 23, 2025, respectively,
the Company issued an unsecured promissory note in the principal amount of $200,000 to the KVC Sponsor LLC in exchange for KVC Sponsor
LLC depositing such amount into the Company’s Trust Account in order to extend the amount of available time to complete a business
combination until July 27, 2025. On each of July 23, 2025, August 18, 2025, September 19, 2025 and October 21, 2025, respectively, the
Company deposited in an amount of $144,670 into the Trust Account in order to extend the amount of available time to complete a business
combination until November 27, 2025. The Note does not bear interest and matures upon the closing of a business combination by the Company.
In addition, the Note may be converted by the holder into units of the Company identical to the units issued in the Company’s initial
public offering at a price of $10.00