Company: KVACU
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074277
Chunk: 29

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 that Private Placement Units will not be transferable,
assignable or saleable until 30 days after the completion of the Company’s Business Combination and will be entitled to registration
rights.

NOTE 7 – COMMITMENTS AND CONTINGENCIES

Risks and Uncertainties

Management continues to evaluate the impact of
the Russia-Ukraine war and the conflict in Israel and Palestine on the industry and has concluded that while it is reasonably possible
that these events could have a negative effect on the Company’s financial position, results of its operations and/or search for
a target company, the specific impact is not readily determinable as of the date of these unaudited condensed consolidated financial statements.
The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Registration Rights

Pursuant to a registration rights agreement entered
into on July 24, 2023, the holders of the Founder Shares, Private Placement Units (including securities contained therein), and units
(including securities contained therein) that may be issued on conversion of working capital loans or extension loans and are entitled
to registration rights pursuant to a registration rights agreement signed on the effective date of the Initial Public Offering requiring
the Company to register such securities for resale. The holders of these securities are entitled to make up to three demands, excluding
short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration
rights with respect to registration statements filed subsequent to the Company’s completion of initial business combination and
rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. The Company will bear
the expenses incurred in connection with the filing of any such registration statements.

Underwriter Agreement

The underwriters are entitled to a cash underwriting
discount of 2% of the gross proceeds of the Initial Public Offering, or $2,990,000, upon the closing of the Business Combination, which
is shown as deferred underwriting expenses on the accompanying unaudited condensed consolidated balance sheets.

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NOTE 8 – SEGMENT INFORMATION

ASC Topic 280, Segment Reporting, establishes
standards for companies to report in their financial statement information about operating segments, products, services, geographic areas,
and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available
that is regularly evaluated by the Company’s chief operating decision maker (“CODM”), or group, in deciding how to allocate
resources and