Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
On
October 18, 2022 , TenX Keane Acquisition (the “Company”) consummated its initial
public offering (the “IPO”) of 6,600,000 units (the “Units”), including 600,000 additional Units issued pursuant
to the partial exercise by the underwriter of its over-allotment option. Each Unit consists of one ordinary share, par value $0.0001
per share, of the Company (the “Ordinary Shares”) and one right to receive two-tenths (2/10) of one Ordinary Share upon the
consummation of the Company’s initial business combination. The Units were sold at an offering price of $10.00 per Unit, generating
total gross proceeds of $66,000,000.
Simultaneously
with the consummation of the IPO and the sale of the Units, the Company consummated the private placement (the “Private Placement”)
of 394,000 Units (the “Placement Units”), each Placement Unit consisting of one Ordinary Share and one right, to the 10XYZ
Holdings LP (the “Sponsor”) at a price of $10.00 per Placement Unit, generating total proceeds of $3,940,000.
As
of October 18, 2022, transaction costs amounted to $4,859,330 consisting of $1,320,000 of cash underwriting fees, non-cash underwriting
fees of $2,922,480 represented by the fair value of 297,000 shares issued to the underwriter and $616,850 of other offering costs.
Item
3. Defaults Upon Senior Securities.
None.
Item
4. Mine Safety Disclosures.
Not
Applicable.
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