Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 1505

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 1505
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 in connection with a shareholder vote to amend
the Company’s Amended and Restated Memorandum and Articles of Association to (A) modify the substance or timing of the Company’s
obligation to redeem 100% of its public shares if the Company does not complete its initial Business Combination within nine months
from the closing of the Initial Public Offering (or up to 21 months from the closing of the Initial Public Offering if the Company extends
the period of time to consummate a Business Combination, including Automatic Extension Period) or (B) with respect to any other provision
relating to shareholders’ rights or pre-business combination activity and (iii) the redemption of all of the Company’s public
shares if the Company is unable to complete its initial Business Combination within nine months from the closing of the Initial Public
Offering (or up to 21 months from the closing of the Initial Public Offering if the Company extends the period of time to consummate a
Business Combination, including Automatic Extension Period), subject to applicable law.

F-7

KEEN VISION ACQUISITION
CORPORATION

NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS

Business
Combination

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the Initial Public Offering and sale of the Private Placement Units, although
substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. Nasdaq rules provide
that the Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80%
of the balance in the Trust Account (less any deferred underwriting commissions and taxes payable on interest earned) at the time of the
signing of an agreement to enter into a Business Combination. The Company will only complete a Business Combination if the post-Business
Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling
interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. There
is no assurance that the Company will be able to successfully effect a Business Combination.

The Company will provide its shareholders with
the opportunity to redeem all or a portion of their public shares upon the completion of a Business Combination either (i) in connection
with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. In connection with an Initial