Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 18

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 18
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 combination
is not approved or completed for any reason, then our public shareholders who elected to exercise their conversion or tender rights would
not be entitled to convert their shares for the applicable pro rata share of the trust account. In such case, we will promptly
return any shares delivered by public holders.

13

The amount in the trust account
will be treated as funds distributable under the Companies Act provided that immediately following the date on which the proposed distribution
is proposed to be made, we are able to pay our debts as they fall due in the ordinary course of business. If we are forced to liquidate
the trust account, we anticipate that we would distribute to our public shareholders the amount in the trust account calculated as of
the date that is two days prior to the distribution date (including any accrued interest net of taxes payable). Prior to such distribution,
we would be required to assess all claims that may be potentially brought against us by our creditors for amounts they are actually owed
and make provision for such amounts, as creditors take priority over our public shareholders with respect to amounts that are owed to
them. We cannot assure you that we will properly assess all claims that may be potentially brought against us. As such, our shareholders
could potentially be liable for any claims of creditors to the extent of distributions received by them as an unlawful payment in the
event we enter an insolvent liquidation. Furthermore, while we will seek to have all vendors and service providers (which would include
any third parties we engaged to assist us in any way in connection with our search for a target business) and prospective target businesses
execute agreements with us waiving any right, title, interest or claim of any kind they may have in or to any monies held in the trust
account, there is no guarantee that they will execute such agreements. Nor is there any guarantee that, even if such entities execute
such agreements with us, they will not seek recourse against the trust account or that a court would conclude that such agreements are
legally enforceable.

Each of our initial shareholders
and our officers and directors have agreed to waive its rights to participate in any liquidation of our trust account or other assets
with respect to the insider shares and private units and to vote their insider shares, private shares in favor of any dissolution and
plan of distribution which we submit to a vote of shareholders. There will be no distribution from the trust account with respect to our
warrants, which will expire worthless.

If we are unable to complete