Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 836

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 7A
Chunk 836
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after the completion of the Company’s Business Combination and will be entitled
to registration rights.

NOTE 7 –
COMMITMENTS AND CONTINGENCIES

Risks and Uncertainties

Management continues to evaluate the impact of
the COVID-19 pandemic, the Russia-Ukraine war and the conflict in Israel and Palestine on the industry and has concluded that while it
is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations
and/or search for a target company, the specific impact is not readily determinable as of the date of these consolidated financial statements.
The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. 

Registration Rights

Pursuant
to a registration rights agreement entered into on July 24, 2023, the holders of the Founder Shares, Private Placement Units (including
securities contained therein), and units (including securities contained therein) that may be issued on conversion of working capital
loans or extension loans and are entitled to registration rights pursuant to a registration rights agreement signed on the effective date
of the Initial Public Offering requiring the Company to register such securities for resale. The holders of these securities are entitled
to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain
“piggy-back” registration rights with respect to registration statements filed subsequent to the Company’s completion
of initial business combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the
Securities Act. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Underwriter Agreement

The underwriters are entitled to a cash underwriting
discount of 2% of the gross proceeds of the Initial Public Offering, or $2,990,000, upon the closing of the Business Combination,
which is shown as deferred underwriting expenses on the accompanying consolidated balance sheets.

NOTE 8 –
SUBSEQUENT EVENTS

In accordance with ASC Topic 855, Subsequent
Events, which establishes general standards of accounting for and disclosure of events that occur after the consolidated balance sheet
date, the Company has evaluated all events or transactions that occurred after the consolidated balance sheet date.

On January 22, 2025 the Company issued an unsecured
promissory note in an amount of $200,000 to the Sponsor, pursuant to which such amount had been deposited into the Trust Account
in order to