Keen Vision Acquisition Corp. to Acquire 05 Real Estate & Construction

TL;DR

KVAC is buying 05 Real Estate & Construction, deal expected Q2 2024.

AI Summary

Keen Vision Acquisition Corp. announced on March 22, 2024, that it has entered into a definitive agreement to acquire 05 Real Estate & Construction. The transaction is expected to close in the second quarter of 2024. Further details regarding the financial terms of the acquisition were not disclosed in this filing.

Why It Matters

This 8-K filing signals a significant step for Keen Vision Acquisition Corp. as it moves towards its first acquisition, potentially impacting its future business operations and shareholder value.

Risk Assessment

Risk Level: medium — The acquisition of a private company by a SPAC carries inherent risks related to valuation, integration, and future performance not yet fully disclosed.

Key Players & Entities

• Keen Vision Acquisition Corp. (company) — Registrant
• 05 Real Estate & Construction (company) — Target company for acquisition
• March 22, 2024 (date) — Date of earliest event reported
• 20240325 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — daq Stock Market LLC Ordinary Shares, $0.0001 par value KVAC The Nasdaq Stock Mar
• $11.50 K — ordinary share at an exercise price of $11.50 KVACW The Nasdaq Stock Market LLC Ind

Filing Documents

• ea0202452-8k_keenvision.htm (8-K) — 31KB
• 0001213900-24-025304.txt ( ) — 251KB
• kvac-20240322.xsd (EX-101.SCH) — 4KB
• kvac-20240322_def.xml (EX-101.DEF) — 27KB
• kvac-20240322_lab.xml (EX-101.LAB) — 37KB
• kvac-20240322_pre.xml (EX-101.PRE) — 25KB
• ea0202452-8k_keenvision_htm.xml (XML) — 7KB

01 Other

Item 8.01 Other Events. On March 22, 2024, Keen Vision Acquisition Corporation (the "Company" or "KVAC") entered into a non-binding letter of intent (the "LOI") with a business combination target (the "Target"), regarding a potential business combination involving the Target and its subsidiaries (the "Proposed Transaction"). The Target is a clinical stage biopharmaceutical company based in Boston, U.S., focusing on i) the research, development, manufacture and use of self-developed pioneering human stem cell-based bioengineering technology platform for novel drug discovery; and ii) the development of next-generation cell and gene therapies for a range of difficult-to-treat or incurable diseases. With a pipeline of therapeutic candidates, the Target's several experimental gene therapies have already obtained U.S. Food and Drug Administration ("FDA") Investigational New Drug (IND) approvals as ongoing clinical trials at multiple premier hospitals in the U.S. with active patient enrolments. The LOI is non-binding and no agreement providing for any Proposed Transaction or any other transaction or the participation by either party therein will be deemed to exist unless and until definitive agreements have been executed. As of the date hereof, KVAC has not entered into any definitive agreements, for the purpose of effecting into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. Pursuant to the IPO prospectus dated July 24, 2023, (Registration No. 333-269659) filed by KVAC for the initial public offering (the "IPO"), the Company is entitled to an automatic six-month extension to complete a business combination (the "Automatic Extension Period") after the execution of the LOI and has 15 months from the closing of its IPO, or October 27, 2024, to complete its initial business combination period. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 25, 2024 KEEN VISION ACQUISITION CORPORATION By: /s/ WONG, Kenneth K.C. Name: WONG, Kenneth K.C. Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR