Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 243

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 243
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, by resolution of the Board of Directors, to elect to further extend the Combination Period
until up to March 3, 2026. The extensions to the Combination Period required the Sponsor or its designees deposit into the Trust Account
(i) on June 4, 2024, with respect to the initial extension, an amount equal to the lesser of (x) $60,000 or (y) $0.03 per public share
multiplied by the number of Public Shares outstanding and (ii) one business day following the public announcement by the Company that
the Board of Directors has elected to further extend such date for an additional month, an amount equal to (x) $30,000 or (y) $0.0015
per public share multiplied by the number of Public Shares outstanding. Our Board of Directors has discretion to decide if we will not
further extend the Combination Period. We can provide no assurance that our Board of Directors will continue to extend the Combination
Period.

If
we have not completed our initial Business Combination within the Combination Period, we will: (i) cease all operations except for the
purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares,
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which
interest shall be net of taxes payable, and less up to $100,000 of interest to pay dissolution expenses) divided by the number of then
outstanding Public Shares, which redemption will completely extinguish Public Shareholders’ rights as shareholders (including the
right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible
following such redemption, subject to the approval of our remaining shareholders and our Board of Directors, liquidate and dissolve,
subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable
law. In such case, our Public Shareholders may, based on estimates as of December 31, 2024, receive approximately $11.89 per share. There
will be no liquidating distributions with respect to our warrants. In certain circumstances, our Public Shareholders may receive less
than the currently estimated $11.89 per share on the redemption of their shares. See “- If third parties bring claims against
us, the proceeds held in the Trust Account could be