Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 1461

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 12
Chunk 1461
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, as amended (the “Securities Act”). In
the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent
of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify
the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (other than the Company’s independent
registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements
with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

On
May 25, 2023, the Company held an extraordinary general meeting (the “May 2023 Meeting”), where shareholders approved, among
other things, an amendment to the Articles to extend the date by which the Company must consummate a Business Combination (the “Combination
Period”) from June 3, 2023 to September 3, 2023 and to allow the Company, without another shareholder vote, by resolution of the
Board of Directors of the Company (the “Board of Directors”), to elect to further extend the Combination Period in one-month
increments up to eighteen (18) additional times, or a total of up to thirty-six (36) months after the Initial Public Offering, until
up to March 3, 2025. In connection with such extensions to the Combination Period, the Sponsor or its designees was required to deposit
into the Trust Account, as a loan, $420,000 for the extension to September 3, 2023 and $140,000 for each monthly extension thereafter
(each, a “Contribution”). The Company’s shareholders also approved an amendment to the Articles to eliminate (i) the
limitation that the Company may not redeem Public Shares in an amount that would cause the Company’s net tangible assets to be
less than $5,000,001 and (ii) the limitation that the Company shall not consummate a Business Combination unless the Company has net tangible
assets of at least $5,000,001 immediately prior to, or upon consummation of, or any greater net tangible asset or cash requirement that
may be contained in the agreement relating to, such Business Combination. The Company’s shareholders also approved an amendment
to the Articles to permit a holder of the Company’s Class B ordinary shares to convert such shares into Class