Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 19

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 19
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 business or businesses. We may, however, structure our initial
Business Combination such that the post-transaction company owns or acquires less than 100% of such interests or assets of the target
business in order to meet certain objectives of the target management team or shareholders or for other reasons. However, we will only
complete such Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities
of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act.

Even
if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our shareholders prior to the Business
Combination may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target
and us in the Business Combination transaction. For example, we could pursue a transaction in which we issue a substantial number of
new shares in exchange for all of the outstanding capital stock, shares or other equity interests of a target. In this case, we would
acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number of new shares, our shareholders
immediately prior to our initial Business Combination could own less than a majority of our outstanding shares subsequent to our initial
Business Combination. If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by
the post-transaction company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes
of the 80% of net assets test. If our initial Business Combination involves more than one target business, the 80% of net assets test
will be based on the aggregate value of all of the target businesses. We do not intend to purchase multiple businesses in unrelated industries
in conjunction with our initial Business Combination. Even though our securities are no longer listed on Nasdaq
and therefore we are not required to satisfy the 80% requirement, we intend to satisfy the 80% requirement at the time of our initial
Business Combination.

13

Emerging
Growth Company; Smaller Reporting Company

We
are an “emerging growth company,” as defined in the JOBS Act. Emerging growth companies may take advantage of certain exemptions
from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including not