Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 1650

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 16
Chunk 1650
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 1 (the “IMTA Amendment”) to the Investment Management Trust Agreement
(the “IMTA”) with Continental Stock Transfer & Trust Company, as trustee. Pursuant to the IMTA Amendment, Section 1(c)
of the IMTA was amended to provide that the trustee may, at the direction of the Company (i) hold funds uninvested, (ii) hold funds in
an interest-bearing or non-interest bearing bank demand deposit account at a U.S. chartered commercial bank with consolidated assets
of $100 billion or more selected by the trustee that is reasonably satisfactory to the Company, or (iii) invest and reinvest the Property
(as defined in the IMTA) in solely United States government securities within the meaning of Section 2(a)(16) of the Investment Company
Act, having a maturity of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and
(d)(4) of Rule 2a-7 promulgated under the Investment Company Act (or any successor rule), which invest only in direct U.S. government
treasury obligations, as determined by the Company. Pursuant to the IMTA Amendment, on March 1, 2024, the Company instructed Continental
Stock Transfer and Trust Company to move the Trust Account out of investment in securities and into an interest-bearing bank deposit
account.

On
June 14, 2023, the Listing Qualifications Department of the Nasdaq Stock Market, LLC (“Nasdaq”) notified the Company
that the Company was not in compliance with Nasdaq’s minimum $1,000,000 aggregate market value of warrants
requirement set forth in Listing Rule 5452(b)(C).

On June 3, 2024, the Company held an extraordinary general meeting (the
“June 2024 Meeting”), where shareholders approved an amendment to the Articles to extend the Combination Period from
June 3, 2024 for an initial two month period to August 3, 2024 and to permit the Company, without another shareholder vote, by
resolution of the Board of Directors to elect to further extend such date up to nineteen (19) additional times for an additional one
(1) month each time, up to March 3, 2026, provided that the Sponsor or its designees deposit into the Trust Account (i)
on June 4, 2024, with respect to the initial extension