Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 268

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 268
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 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 of 20,000,000
Units. On March 4, 2022 the underwriters of the IPO partially exercised their over-allotment option and, in connection therewith, on
March 8, 2022 we consummated the issuance and sale of an additional 2,009,963 Units. Each Unit consists of one Class A ordinary share
and one-half of one Public Warrant. The Units were sold at a price of $10.00 per Unit, generating gross proceeds of $220,099,630.

Simultaneously
with the closing of the IPO, we consummated the sale of 6,666,667 Private Placement Warrants, at a price of $1.50 per Private Placement
Warrant in a private placement, consisting of 2,666,667 Private Placement Warrants issued to our Sponsor and 4,000,000 Private Placement
Warrants issued to Valuence Partners LP, generating gross proceeds of $10,000,000.

Simultaneously
with the exercise of the over-allotment, we consummated the sale of an additional 267,995 Private Placement Warrants to the Sponsor,
generating gross proceeds of $401,993.

Offering
costs for the IPO and the exercise of the underwriters’ over-allotment option amounted to $10,718,994, consisting of $4,000,000
of underwriting fees, net of $2