Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 95

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 95
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 share, as part of the Units
sold in our IPO and, simultaneously with the closing of the IPO, we issued in a private placement an aggregate of 6,666,667 Private Placement
Warrants, each exercisable to purchase one Class A ordinary share at a price of $11.50 per share. Following our IPO, our Initial Shareholders
owned an aggregate of 5,502,490 Founder Shares. As of December 31, 2024, of the 5,502,490 Founder Shares, all but two have been converted
into Class A ordinary shares on a one-for-one basis. In addition, if our Initial Shareholders make any working capital loans, up to $1,500,000
of such loans may be converted into warrants, at the price of $1.50 per warrant at the option of the lender. The Sponsor and its affiliate
have entered into the Contribution Notes in connection with required monthly Contributions into the Trust Account in connection with
extensions of the Combination Period. The Contribution Notes have an aggregate principal amount of up to approximately $2,564,151, and
up to $1.5 million of such amount may be converted into warrants at the option of the Contributors. To the extent we issue Class A ordinary
shares to effectuate a Business Combination, the potential for the issuance of a substantial number of additional Class A ordinary shares
upon exercise of these warrants or conversion rights could make us a less attractive acquisition vehicle to a target business. Any such
issuance will increase the number of issued and outstanding Class A ordinary shares and reduce the value of the Class A ordinary shares
issued to complete the business transaction. Therefore, our warrants and Founder Shares may make it more difficult to effectuate a Business
Combination or increase the cost of acquiring the target business.

If
we are unable to consummate our initial Business Combination within the Combination Period, our Public Shareholders may be forced to
wait beyond the Combination Period before redemption from our Trust Account.

If
we are unable to consummate our initial Business Combination within the Combination Period, we will distribute the aggregate amount then
on deposit in the Trust Account (less up to $100,000 of the interest earned thereon to pay dissolution expenses and net of taxes payable),
pro rata to our Public Shareholders by way of redemption and cease all operations except for the purposes of winding up of our affairs,
as further described herein. Any redemption of Public Shares from the Trust Account shall be effected automatically by function of our