Company: KVACU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109170
Chunk: 75

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 extend the period of time to consummate a Business Combination up to
four times, four times by an additional one month each time to complete a Business Combination. The Sponsor or its affiliates or designees
will receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid in the
event that the Company are unable to close a Business Combination unless there are funds available outside the Trust Account to do so.
Such notes would either be paid upon consummation of the initial Business Combination or at the lender’s discretion, converted upon
consummation of the Business Combination into additional private units at a price of $10.00 per unit.

On each of October 28, 2024, November 20, 2024,
December 23, 2024, January 22, 2025, February 24, 2025, March 24, 2025, April 25, 2025, May 20, 2025 and June 23, 2025, the Company issued
an unsecured promissory note in an amount of $200,000 to the Sponsor, pursuant to which such amount has been deposited into the Trust
Account in order to extend the amount of available time to complete a business combination until July 27, 2025. On each of July 23, 2025,
August 18, 2025, September 19, 2025 and October 21, 2025, the Company has deposited in an amount of $144,670 into the Trust Account
in order to extend the amount of available time to complete a business combination until November 27, 2025. The notes are non-interest
bearing and are payable upon the closing of a business combination. In addition, the notes may be converted, at the lender’s discretion,
into additional Private Units at a price of $10.00 per unit. As of September 30, 2025 and December 31, 2024, the note payable balance
was $2,234,011 and $600,000, respectively.

16

Advance from a Related Party

As of September 30, 2025 and December 31, 2024,
the Company had a temporary advance of $1,200,880 and $575,085 from the Sponsor, respectively. The balance is unsecured, interest-free
and has no fixed terms of repayment.

NOTE