Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 304

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1C
Chunk 304
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 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
Business Combination, the Company may seek shareholder approval of a Business Combination at a meeting called for such purpose at which
shareholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company shall
not consummate such Business Combination unless (i) the Company has net tangible assets of at least US$5,000,001 after payment of
the deferred underwriting commissions, either immediately prior to, or upon such consummation of, or any greater net tangible asset or
cash requirement that may be contained in the agreement relating to, such Business Combination; or (ii) otherwise the Company