Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 44

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 44
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 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 3, 2025. The extension to the Combination Period required a $420,000
deposit into the Trust Account by the Contributors and the election to further extend the Combination Period requires us to (i) cause
the deposit of $140,000 each month into the Trust Account and (ii) approve the extension by the resolution of the Board of Directors.

On
June 3, 2024, we held the June 2024 Meeting, where shareholders approved an amendment to our Articles to further extend the date by which
the Company must consummate our initial Business Combination from June 3, 2024 for an initial two month period to August 3, 2024 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 3, 2026. The extension to the Combination Period required the Sponsor or its designees deposit into the Trust Account
(i) on June 4, 2024, with respect to the initial extension, an amount equal to the lesser of (x) $60,000 or (y) $0.03 per public share
multiplied by the number of Public Shares outstanding and (ii) one business day following the public announcement by the Company that
the Board of Directors has elected to further extend such date for an additional month, an amount