$KVACF · Keen Vision Acquisition Corp.
Keen Vision Acquisition Corp., a blank-check company, filed its Q3 2026 10-Q. The trust account fell to $2,227,578 from $57,003,115 at year-end 2025 after in redemptions. Net loss was $145,228 for the quarter and $73,262 for nine months. Redeemable shares outstanding dropped to 176,780 from 4,822,346.
- Trust account fell to $2,227,578 from $57,003,115 at Dec 31, 2025.
- Shareholders redeemed during the nine months ended Sept 30, 2026.
- Redeemable shares outstanding dropped to 176,780 from 4,822,346.
- Extension promissory note payable rose to $2,938,022 from $2,668,022.
- Total current liabilities reached against in current assets.
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A near-total redemption wiped out 96% of the trust account, leaving a shell company with minimal capital to pursue a deal.
SPACs with depleted trust accounts and heavy redemptions face heightened liquidation risk absent a viable target.
Company has not commenced operations and may be unable to complete a business combination; net tangible assets requirement of $5,000,001 must be met. Trust funds are nearly exhausted after mass redemptions.