Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 669

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 669
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(a)
Market Information

Our
Units, Class A ordinary shares and Public Warrants were listed on Nasdaq under the symbols “VMCAU,” “VMCA”
and “VMCAW”, respectively, until March 11, 2025. Shortly following the delisting, our Units, Class A ordinary shares and Public
Warrants began trading on the over-the-counter market and quoted on the OTCPINK under the symbols “VMCUF”, “VMCAF” and “VMCWF”, respectively.

(b)
Holders

As
of December 31, 2024, there was one holder of record of our Units, three holders of record of our Class A ordinary shares, two holders
of record of our Class B ordinary shares, and three holders of record of our warrants, including our Public Warrants and Private Placement
Warrants. The number of holders of record does not include a substantially greater number of “street name” holders or beneficial
holders whose Units, Class A ordinary shares and Public Warrants are held of record by banks, brokers and other financial institutions.

(c)
Dividends

We
have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of a
Business Combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements
and general financial conditions subsequent to completion of an initial Business Combination. The payment of any cash dividends subsequent
to an initial Business Combination will be within the discretion of our Board of Directors at such time. If we incur any indebtedness,
our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.

(d)
Securities Authorized for Issuance Under Equity Compensation Plans

None.

(e)
Stock Performance Graph

Not
required for smaller reporting companies.

(f)
Use of Proceeds

On
March 3, 2022, the Company consummated the sale of 20,000,000 Units in our IPO. On March 4, 2022 the underwriters of the IPO partially
exercised their over-allotment option and, in connection therewith, on March 8, 2022 the Company consummated the issuance and sale of
an additional 2,009,963 Units in our IPO. The Units were sold at a price of $10.00 per Unit, generating gross proceeds at the time of
the IPO of $220,099,