Company: VMCWF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023515
Chunk: 74

Company: Valuence Merger Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 ordinary
share) was removed from the Trust Account to pay such holders and approximately $65.7 million remained in the Trust Account. Following
redemptions, the Company had 6,210,718 Class A ordinary shares subject to redemption outstanding.

In
connection with the June 2024 Meeting, shareholders holding 4,343,316 Class A ordinary shares exercised their right to redeem their shares
for a pro rata portion of the funds in the Trust Account. As a result, approximately $49.9 million (approximately $11.49 per ordinary
share) was removed from the Trust Account to pay such holders. After the satisfaction of such redemptions, the balance in the Company’s
Trust Account was approximately $21.6 million. Following redemptions, the Company had 1,867,402 Class A ordinary shares subject to redemption
outstanding. [As of September 30, 2025, the balance in the Company’s Trust Account was approximately $22.9 million.]

    11

VALUENCE
MERGER CORP. I

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

The
Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable Class A ordinary
shares to equal the redemption value at the end of each reporting period. This method would view the end of the reporting period as if
it were also the redemption date for the security. Increases or decreases in the carrying amount of redeemable Class A ordinary shares
are affected by charges against additional paid-in capital and accumulated deficit.

At
September 30, 2025 and December 31, 2024, the Class A ordinary shares reflected in the condensed balance sheets are reconciled in the
following table:

 SCHEDULE OF ORDINARY CLASS OF SHARES

    Class A ordinary shares subject to possible redemption, at redemption value, December 31, 2023 
    $69,262,338 
  
    Less: 

    Redemption of shares 
     (49,900,380)
  
    Plus: 

    Accretion of Class A ordinary shares subject to possible redemption 
     2,844,679 
  
    Class A ordinary shares subject to possible redemption, at redemption value, December 31, 2024 
    $22,206,637 
  
    Plus: 

    Accretion of Class A ordinary shares subject to possible