Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 418

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 418
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 the date of these financial statements.

Registration
Rights

Pursuant
to a registration rights agreement entered into on February 28, 2022, the holders of the Founder Shares, Private Placement Warrants and
any warrants that may be issued upon conversion of Working Capital Loans (and any Class A ordinary shares issuable upon the exercise
of the Private Placement Warrants and warrants that may be issued upon conversion of the Working Capital Loans) will be entitled to registration
rights. The holders of these securities will be entitled to make up to three demands, excluding short form demands, that the Company
register such securities. In addition, the holders have certain “piggyback” registration rights with respect to registration
statements filed subsequent to the completion of a Business Combination. The registration rights agreement does not contain liquidating
damages or other cash settlement provisions resulting from delays in registering the Company’s securities. The Company will bear
the expenses incurred in connection with the filing of any such registration statements.

Underwriting
Agreement

The
Company granted the underwriters a 45-day option to purchase up to 3,000,000 additional Units to cover over-allotments at the Initial
Public Offering price, less the underwriting discounts and commissions. As a result of the underwriters’ election on March 8, 2022,
to purchase an additional 2,009,963 Units upon the partial exercise of the over-allotment option, a total 990,037 Units remained available
for purchase at a price of $10.00 per Public Share. As of April 14, 2022, the remaining overallotment option fully expired.

The
underwriters are entitled to a deferred fee of $8,105,480 in connection with their purchase of Units in the Initial Public Offering and
partial exercise of their over-allotment option. The deferred fee will become payable to the underwriters from the amounts held in the
Trust Account solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement.

    F-18

NOTE
7 - SHAREHOLDERS’ DEFICIT

Preference
shares - The Company is authorized to issue 1,000,000 preference shares with a par value of $0.0001 per share,
with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s Board of
Directors. At December 31, 2024 and 202