Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 1400

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 11
Chunk 1400
---
 of cash into Trust Account 
     (784,088) 
     (1,120,000)
  
    Cash withdrawn from Trust Account in connection with redemption 
     49,900,380  
     167,831,206 
  
    Net cash provided by investing activities 
     49,116,292  
     166,711,206 

    Cash Flows from Financing Activities: 

    Advances from related party 
     810,000  
     — 
  
    Proceeds from convertible promissory notes - sponsor 
     300,000  
     613,207 
  
    Proceeds from convertible promissory note - related party 
     —  
     1,650,941 
  
    Payment of offering costs 
     —  
     (70,000)
  
    Redemption of ordinary shares 
     (49,900,380) 
     (167,831,206)
  
    Net cash used in financing activities 
     (48,790,380) 
     (165,637,058)

    Net Change in Cash 
     (623,779) 
     365,615 
  
    Cash – Beginning of year 
     684,816  
     319,201 
  
    Cash – End of year 
    $61,037  
    $684,816 

The
accompanying notes are an integral part of these financial statements.

F-6

VALUENCE
MERGER CORP. I

NOTES
TO FINANCIAL STATEMENTS

DECEMBER
31, 2024

NOTE
1 - DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Valuence
Merger Corp. I (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on August 27, 2021.
The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or entities (a “Business Combination”).

The
Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. However, the Company intends
to concentrate its efforts in identifying a potential Business Combination partner that is based in Asia (excluding China, Hong Kong
and Macau) and who is developing breakthrough technology in life sciences and/or advancing a platform for sustainable technology.