Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 28

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 28
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 June 30, and (2) the date on which we have issued more than $1 billion in non-convertible
debt during the prior three year period.

Competition

In identifying, evaluating
and selecting a target business, we may encounter intense competition from other entities having a business objective similar to ours.
Many of these entities are well established and have extensive experience identifying and effecting business combinations directly or
through affiliates. Many of these competitors possess greater technical, human and other resources than us and our financial resources
will be relatively limited when contrasted with those of many of these competitors. While we believe there may be numerous potential target
businesses that we could acquire with the net proceeds of the Initial Public Offering, our ability to compete in acquiring certain sizable
target businesses may be limited by our available financial resources.

The following also may not
be viewed favorably by certain target businesses:

    ●
    our obligation to seek shareholder approval of a business combination or obtain the necessary financial information to be sent to shareholders in connection with such business combination may delay or prevent the completion of a transaction;

    ●
    our obligation to redeem public shares held by our public shareholders may reduce the resources available to us for a business combination;

    ●
    Nasdaq may require us to file a new listing application and meet its initial listing requirements to maintain the listing of our securities following a business combination;

    ●
    our outstanding warrants and the potential future dilution they represent;

    ●
    our obligation to pay the deferred underwriting discounts and commissions to the underwriters upon consummation of our initial business combination;

    ●
    our obligation to either repay or issue units upon conversion of up to $1,000,000 of working capital loans that may be made to us by our initial shareholders, officers, directors or their affiliates;

    ●
    our obligation to register the resale of the insider shares, as well as the private units (and underlying securities) and any securities issued to our initial shareholders, officers, directors or their affiliates upon conversion of working capital loans; and

    ●
    the impact on the target business’ assets as a result of unknown liabilities under the securities laws or otherwise depending on developments involving us prior to the consummation of a business combination.

20

Any of these factors may place
us at a competitive disadvantage in successfully negotiating a business combination. Our management believes, however, that our status
as a public entity and potential access to the U.S. public equity