Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 57

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 57
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 initial Business Combination. Our Public Shareholders will
not have the right to appoint directors prior to the consummation of our initial Business Combination.

There is no requirement under the Companies Act for us to
hold annual or extraordinary general meetings in order to appoint directors. Until we hold an annual general meeting, Public Shareholders
may not be afforded the opportunity to discuss Company affairs with management. Currently, our Initial Shareholders own approximately
75% of our issued and outstanding ordinary shares. In addition, prior to our initial Business Combination, only holders of our Founder
Shares, all of which are held by our Initial Shareholders, will have the right to vote on the appointment of our directors. Our Initial
Shareholders have agreed that, subject to applicable law, neither of our Initial Shareholders will vote their Founder Shares to change
the size of our Board of Directors or, without the others’ consent, with respect to appointment of directors. As holders of our
Class A ordinary shares, our Public Shareholders will not have the right to vote on the appointment of directors prior to consummation
of our initial Business Combination. These provisions of our Articles may only be amended by a special resolution passed by at least
90% of our ordinary shares voting in a general meeting As a result, holders of Public Shares will not have any influence over the appointment
of directors prior to our initial Business Combination.

If
we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements
and our activities may be restricted, which may make it difficult for us to complete our initial Business Combination or force us to
abandon our efforts to complete an initial Business Combination.

If
we are deemed to be an investment company under the Investment Company Act, our activities may be restricted, including:

    ●
    restrictions
    on the nature of our investments; and

    ●
    restrictions
    on the issuance of securities, each of which may make it difficult for us to complete our initial Business Combination. In addition,
    we may have imposed upon us burdensome requirements, including:

    ○
    registration
    as an investment company;

    ○
    adoption
    of a specific form of corporate structure; and

    ○
    reporting,
    record keeping, voting, proxy and disclosure requirements and other rules and regulations.

In
order not to be regulated as an investment company under the Investment Company Act, unless it can qualify for an exclusion, a company