Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 339

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 339
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2023. We do not participate in transactions that create
relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have
been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing
arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial
assets.

Contractual Obligations

We do not have any long-term debt, capital lease
obligations, operating lease obligations or long-term liabilities other than an agreement to pay our Sponsor a monthly fee of $10,000
for general and administrative services, including office space, utilities and administrative services to the Company. We began incurring
these fees on August 1, 2023 and will continue to incur these fees monthly until the earlier of the completion of the Business Combination
and the Company’s liquidation. Also, we are committed to the below:

Registration Rights

The holders of the Founder Shares, the Private
Placement Units (and their underlying securities) and the units that may be issued upon conversion of the working capital loans (and their
underlying securities) are entitled to registration rights pursuant to a registration rights agreement signed on the effective date of
the Public Offering. The holders of a majority of these securities are entitled to make up to two demands that the Company register such
securities. The holders of the majority of the Founder Shares can elect to exercise these registration rights at any time commencing three
months prior to the date on which these ordinary shares are to be released from escrow. The holders of a majority of the Private Placement
Units and warrants issued in payment of working capital loans made to the Company (or underlying securities) can elect to exercise these
registration rights at any time after the Company consummates a Business Combination. In addition, the holders have certain “piggy-back”
registration rights with respect to registration statements filed subsequent to the completion of a Business Combination. The Company
will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriting Agreement

The Company is committed to pay the Deferred Discount
of 2% of the gross offering proceeds of the Initial Public Offering, in the amount of $2,990,000, to the underwriter upon the Company’s
consummation of the Business Combination. The underwriter is not entitled to any interest accrued on the Deferred Discount, and has waived
its right to receive the Deferred