Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 14

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 14
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 terms acceptable to us or at all. As a result,
we may not be able to consummate such initial business combination and we may not be able to locate another suitable target within the
applicable time period, if at all. Public shareholders may therefore have to wait 15 months after we have signed the letter of intent
on March 22, 2024, (or up to 21 months if we extend such period as described in more detail in this annual report) from the closing
of the IPO in order to be able to receive a pro rata share of the trust account.

Our initial shareholders and
our officers and directors have agreed (1) to vote any ordinary shares owned by them in favor of any proposed business combination,
(2) not to convert any ordinary shares in connection with a shareholder vote to approve a proposed initial business combination,
and (3) not sell any ordinary shares in any tender in connection with a proposed initial business combination. As a result, if we
do not need public shareholders to vote in favor of the transaction in order to have such transaction approved.

10

If we hold a meeting to approve
a proposed business combination and a significant number of shareholders vote, or indicate an intention to vote, against such proposed
business combination, our officers, directors, initial shareholders or their affiliates could make such purchases in the open market or
in private transactions in order to influence the vote. Notwithstanding the foregoing, our officers, directors, initial shareholders and
their affiliates will not make purchases of ordinary shares if the purchases would violate Section 9(a)(2) or Rule 10b-5
of the Exchange Act, which are rules designed to stop potential manipulation of a company’s stock.

Ability to Extend Time to Complete Business
Combination

We had 15 months from July
27, 2023, the closing of the IPO, to consummate our initial business combination after we signed the letter of intent on March 22, 2024.
On October 25, 2024, we held an annual meeting of shareholders. our shareholders approved the proposal to amend our amended and restated
memorandum and articles of association to extend the date by which we have to consummate a business combination three times for nine additional
months each time from October 27, 2024 to July 27, 2025 by depositing into the Trust Account $200,000 for all remaining public shares
(the “Extension Payment”) for each one-month