Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 212

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 212
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, we do not plan to buy businesses or assets with a view to resale or profit from their resale and we do not plan to buy unrelated
businesses or assets or to be a passive investor. In addition, the proceeds held in the Trust Account were invested in United States
“government securities” within the meaning of Section 2(a)(16) of the Investment Company Act having a maturity of 185 days
or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act which invest
only in direct U.S. government treasury obligations from the consummation of our IPO until March 1, 2024, when, to mitigate the potential
risk that we might be deemed to be an investment company for purposes of the Investment Company Act, the trustee, pursuant to Amendment
No. 1 the IMTA, liquidated such investments and moved the proceeds to an interest-bearing demand deposit account. As a result, the remaining
proceeds from the IPO and sale of Private Placement Warrants are no longer invested in U.S. government securities or money market funds.
Pursuant to the IMTA, the trustee is not permitted to invest in other securities or assets. By restricting the investment of the proceeds
in this manner, and by focusing our directors’ and officers’ time toward, and operating our business for the purpose of,
acquiring and growing businesses for the long term (rather than buying and selling businesses in the manner of a merchant bank or private
equity fund or investing in assets for the purpose of achieving investment returns on such assets), we intend to avoid being deemed an
“investment company” within the meaning of the Investment Company Act. Further, investing in our securities is not intended
for persons who are seeking a return on investments in government securities or investment securities. Instead, the Trust Account is
intended as a holding place for funds pending the earliest to occur of either: (i) the completion of our initial Business Combination;
(ii) the redemption of any Public Shares properly submitted in connection with a shareholder vote to amend our Articles (A) to modify
the substance or timing of our obligation to allow redemption in connection with our initial Business Combination or to redeem 100% of
our Public Shares if we do not complete our initial Business Combination within the Combination Period or (B) with respect to any other
material provisions relating to the rights of Public Shareholders; or (iii) absent an initial Business Combination within the Combination
Period,