Loan & DebtApr 27, 2026, 05:02 PM
KVAC Issues $120K Promissory Note to Extend Business Combination Period
AI Summary
Keen Vision Acquisition Corp. (KVAC) issued an unsecured promissory note for $120,000 to its sponsor, KVC Sponsor LLC, on April 21, 2026. The funds were deposited into the company's trust account to extend the period available to complete a business combination. As a result, the business combination deadline has been extended to July 27, 2026. The note is non-interest bearing, matures upon a business combination, and is convertible into company units at $10.00 per unit.
Key Highlights
- Keen Vision Acquisition Corp. (KVAC) issued an unsecured promissory note for $120,000.
- The note was issued to KVC Sponsor LLC, the company's initial public offering sponsor.
- Funds from the note were deposited into the Trust Account to extend the business combination period.
- The business combination period has been extended to July 27, 2026.
- The promissory note does not bear interest and matures upon the closing of a business combination.
- The note is convertible by the holder into units identical to IPO units at $10.00 per unit.
Price Impact
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