Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 197

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 197
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The
requirement that we complete our initial Business Combination within the prescribed time frame under our Articles may give potential
target businesses leverage over us in negotiating a Business Combination and may decrease our ability to conduct due diligence on potential
Business Combination targets as we approach our dissolution deadline, which could undermine our ability to complete our initial Business
Combination on terms that would produce value for our shareholders.

Any
potential target business with which we enter into negotiations concerning a Business Combination will be aware that we must complete
our initial Business Combination within the Combination Period. Consequently, such target business may obtain leverage over us in negotiating
a Business Combination, knowing that if we do not complete our initial Business Combination with that particular target business, we
may be unable to complete our initial Business Combination with any target business. This risk will increase as we get closer to the
end of the Combination Period. In addition, we may have limited time to conduct due diligence and may enter into our initial Business
Combination on terms that we would have rejected upon a more comprehensive investigation.

We
may not be able to complete our initial Business Combination within the prescribed time frame and/or we may not elect to further extend
our Combination Period, in which case we would cease all operations except for the purpose of winding up and we would redeem our Public
Shares and liquidate, in which case our Public Shareholders may, based on estimates as of December 31, 2024, receive approximately $11.89
per share, or less than such amount in certain circumstances, and there will be no liquidating distributions with respect to our warrants.

Our
Initial Shareholders, officers and directors have agreed that we must complete our initial Business Combination within the Combination
Period. We may not be able to find a suitable target business and complete our initial Business Combination within such time period.
Our Articles initially provided that we will have only 15 months (or up to 18 months or 21 months, as applicable) following the effectiveness
of the IPO to consummate our initial Business Combination. However, on May 25, 2023, we held the May 2023 Meeting, where shareholders
approved, among other things, an amendment to our Articles to extend the date by which the Company must consummate our initial Business
Combination from June 3, 2023 to September 3, 2023 and to allow us, without another shareholder vote, by resolution of the Board of Directors,
to elect to further extend the Combination Period until up to March