Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 1504

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 1504
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ment option, at $10.00 per Public Unit, generating gross proceeds of $149,500,000 to the
Company. Each Public Unit consists of one ordinary share (“Public Share”) and one redeemable warrant (“Public Warrant”)
to purchase one ordinary share at an exercise price of $11.50 per share.

Simultaneously with the closing of the Initial
Public Offering, the Company consummated the sale of 678,575 units (the “Private Placement Units”) at a price of
$10.00 per Private Placement Unit in a private placement to KVC Sponsor LLC (the “Sponsor”), generating gross proceeds
of $6,785,750 to the Company. Each Private Placement Unit consists of one ordinary share (“Private Placement Share”)
and one redeemable warrant (“Private Warrant”) to purchase one ordinary share at an exercise price of $11.50 per whole
share.

Transaction costs amounted to $6,597,980, consisting
of $2,990,000 of underwriting commissions, $2,990,000 of deferred underwriting commissions and $617,980 of other offering
costs. In addition, at July 27, 2023, cash of $1,593,452 was held outside of the Trust Account and is available for the payment of
offering costs and for working capital purposes. Cash of $151,368,750 was transferred to the Trust Account on July 27, 2023.

Trust
Account

The aggregate
amount of $151,368,750 ($10.125 per Public Unit) held in a trust account (“Trust Account”) established for the benefit
of the Company’s public shareholders and maintained by Continental Stock Transfer & Trust Company, acting as trustee, will be
invested only in U.S. government treasury bills, with a maturity of 185 days or less or in money market funds investing solely in U.S.
Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act of 1940, as amended (the “Investment
Company Act”). Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company
to pay its taxes, if any, the funds in the Trust Account will not be released until the earliest of (i) the completion of the Company’s
initial Business Combination, (ii) the redemption of any public shares properly tendered