Company: KCHVR
Filing Date: 2025-07-09
Form Type: 10-Q
Source: 0001213900-25-062351
Chunk: 53

Company: Kochav Defense Acquisition Corp.
Filing Date: 2025-07-09
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 voted in favor
of approving the Business Combination transaction) in favor of the initial Business Combination, (iv) the Founder Shares are automatically
convertible into Class A ordinary shares in connection with the consummation of the initial Business Combination or earlier at the
option of the holder on a one-for-one basis, subject to adjustment as described herein and in the Company’s amended and restated
memorandum and articles of association, and (v) prior to the closing of the initial Business Combination, only holders of the Class B
ordinary shares will be entitled to vote on the appointment and removal of directors or continuing the company in a jurisdiction outside
the Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt new constitutional documents,
in each case, as a result of the Company approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands).

Promissory Note — Related Party

The Sponsor had agreed to loan the Company an
aggregate of up to $300,000 to be used for a portion of the expenses of the Initial Public Offering. The loan was non-interest bearing,
unsecured and due at the earlier of December 31, 2025 or the closing of the Initial Public Offering. As of March 31, 2025, the Company
borrowed $113,195 under the promissory note. Subsequently, the Company borrowed an aggregate total of $207,494 and repaid the full amount
of $207,494 on June 2, 2025. Borrowings under the note are no longer available.

10

KOCHAV DEFENSE ACQUISITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

Administrative Services Agreement

Commencing on the date the securities of the Company
were first listed, May 25, 2025, the Company entered into an agreement with the Sponsor or an affiliate to pay an aggregate of $22,900
per month for office space, utilities, and secretarial and administrative support. These monthly fees will cease upon the completion of
the initial Business Combination or the liquidation of the Company.

Related Party Loans

In order to finance transaction costs in connection
with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors may,
but are not obligated to, loan the Company funds as may be required (the “Working