Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 510

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 510
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 of 5,502,490 Founder Shares.

In
addition, our Sponsor, together with Valuence Partners LP, one of its affiliates, pursuant to a written agreement, purchased from us
an aggregate of 6,666,667 Private Placement Warrants at a price of $1.50 per warrant. This purchase took place on a private placement
basis simultaneously with the completion of our IPO. This issuance was made pursuant to the exemption from registration contained in
Section 4(a)(2) of the Securities Act.

No
underwriting discounts or commissions were paid with respect to such sales of Founder Shares or Private Placement Warrants.

Following
the closing of the IPO and sale of Private Placement Warrants, an aggregate of $226,702,619 ($10.30 per Unit) from the net proceeds of
the sale of the Units in the IPO and the Private Placement Warrants was placed in the Trust Account.

Following
redemptions in connection with the extensions (described elsewhere in this Annual Report), we have an aggregate of $22,206,637 held in
the Trust Account as of December 31, 2024.

ITEM
6. [RESERVED].

59

ITEM
7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The
following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction
with our audited financial statements and the notes related thereto which are included in “Item 8. Financial Statements and
Supplementary Data” of this Annual Report. Certain information contained in the discussion and analysis set forth below includes
forward-looking statements. Our actual results may differ materially from those anticipated in these forward-looking statements as a
result of many factors, including those set forth under “Cautionary Note Regarding Forward-Looking Statements and Risk Factor
Summary,” “Item 1A. Risk Factors” and elsewhere in this Annual Report.

Overview

Valuence
Merger Corp. I was incorporated in the Cayman Islands on August 27, 2021. The Company was formed for the purpose of entering into a Business
Combination.

We
expect to continue to incur significant costs in the pursuit of our acquisition plans. We cannot assure you that our plans to complete
a Business Combination will be successful.

The
Registration Statement for our IPO was declared effective on February 28, 2022. On March 3, 2022, we consummated the sale