Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 742

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 742
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,488 Class B ordinary
shares held by them on a one-for-one basis into Class A ordinary shares. At December 31, 2024 and 2023, there were 2 and 5,502,490 Class
B ordinary shares issued and outstanding, respectively.

Holders
of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all other matters submitted to a vote
of shareholders, except as required by law.

The
Class B ordinary shares will automatically convert into Class A ordinary shares at the time of a Business Combination or earlier at the
option of the holders thereof at a ratio such that the number of Class A ordinary shares issuable upon conversion of all Founder Shares
will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of ordinary shares issued and outstanding
upon completion of the Initial Public Offering, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable
upon conversion or exercise of any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in
relation to the consummation of a Business Combination, excluding any forward purchases securities and Class A ordinary shares or equity-linked
securities exercisable for or convertible into Class A ordinary shares issued, deemed issued, or to be issued, to any seller in a Business
Combination and any Private Placement Warrants issued to the Sponsor, its affiliates, Valuence Partners LP or any member of the Company’s
management team upon conversion of Working Capital Loans. In no event will the Class B ordinary shares convert into Class A ordinary
shares at a rate of less than one to one.

Warrants -
At December 31, 2024 and 2023, there were 11,004,981 Public Warrants and 6,934,662 Private Placement Warrants outstanding.

Public
Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants.
The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination and (b) one year
from the closing of the Initial Public Offering. The Public Warrants will expire five years from the completion of a Business Combination
or earlier upon redemption or liquidation.

The
Company will not be obligated to deliver any Class A ordinary shares pursuant to the exercise of a warrant and will have