Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 81

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 81
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 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 July 23, 2025, the Company has 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 August 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 per unit.

Results of Operations

All activity from inception up to June 30, 2025
related to our formation and the Initial Public Offering. Since the Initial Public Offering, our activity has been limited to the evaluation
of Business Combination candidates, and we will not be generating any operating revenues until the closing and completion of our initial
Business Combination. We incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and
auditing compliance), as well due diligence expenses in connection with our searches for business combination targets.

For the six months ended June 30, 202