Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 238

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 238
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 initial Business Combination as a result of the anti-dilution
provisions contained in our Articles. Any such issuances would dilute the interest of our shareholders and likely present other risks.

Our
Articles authorize the issuance of up to 180,000,000 Class A ordinary shares, par value $0.0001 per share, 20,000,000 Class B ordinary
shares, par value $0.0001 per share and 1,000,000 undesignated preference shares, par value $0.0001 per share. We have 7,369,890 Class
A ordinary shares, 2 Class B ordinary shares, and 17,939,643 warrants issued and outstanding. Warrants are exercisable at $11.50 beginning
30 days after an initial Business Combination. Class B ordinary shares are convertible into Class A ordinary shares, initially at a one-for-one
ratio but subject to adjustment as set forth herein and in our Articles. Since the IPO, there is no preference shares issued and outstanding.

We
may issue a substantial number of additional ordinary shares, and may issue preference shares, in order to complete our initial Business
Combination or under an employee incentive plan after completion of our initial Business Combination. We may also issue Class A ordinary
shares upon conversion of the Class B ordinary shares at a ratio greater than one-to-one at the time of our initial Business Combination
as a result of the anti-dilution provisions contained in our Articles. However, our Articles provide, among other things, that prior
to our initial Business Combination, we may not issue additional ordinary shares that would entitle the holders thereof to (i) receive
funds from the Trust Account or (ii) vote on any initial Business Combination. The issuance of additional ordinary shares or preference
shares:

    ●
    may
    significantly dilute the equity interest of investors in the IPO;

    ●
    may
    subordinate the rights of holders of ordinary shares if preference shares are issued with rights senior to those afforded our ordinary
    shares;

    ●
    could
    cause a change in control if a substantial number of ordinary shares are issued, which may affect, among other things, our ability
    to use our net operating loss carry forwards, if any, and could result in the resignation or removal of our present officers and
    directors; and

    ●
    may
    adversely affect prevailing market prices for our Units, Class A ordinary shares and/or Public Warrants.

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