Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 231

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 231
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 price of $25,000, or approximately $0.00043 per share, and purchased the Private Placement
    Warrants for $1.50 per warrant, or $10,000,000 in the aggregate.

    ●
    For
    extensions beginning on January 3, 2024 through May 3, 2024, Sponsor and its affiliate invested a total of $700,000 of Contributions.
    The Sponsor and its affiliate also invested $56,022 for an initial two month period of June 3, 2024 to August 3, 2024 and thereafter
    eight additional deposits of $28,011 for an aggregate principal amount of $280,110 into our Trust Account as New Contributions for
    eight monthly extensions to April 3, 2025. Such Contributions and New Contributions are evidenced by the Contribution Notes and June
    2024 Note and will be repayable upon the consummation of our Business Combination or our earlier liquidation. However, if we do not
    consummate a Business Combination and we liquidate, any such promissory notes will be repaid only from funds held outside of the
    Trust Account or will be forfeited, eliminated or otherwise forgiven.

    ●
    The
    Sponsor and the Company’s officers and directors and their respective affiliates are entitled to reimbursement of out-of-pocket
    expenses incurred by them related to identifying, investigating, negotiating and completing a Business Combination. If we do not
    consummate a Business Combination, they will not have any claim against the Trust Account for reimbursement. As of the date of this
    Annual Report, there are no reimbursable out-of-pocket expenses outstanding.

41

    ●
    All
    rights specified in the Articles relating to the right of officers and directors to be indemnified by the Company, and of the Company’s
    officers and directors to be exculpated from monetary liability with respect to prior acts or omissions, will continue after a Business
    Combination. If the Company does not complete a Business Combination and liquidates, the Company will not be able to perform its
    obligations to its officers and directors under those provisions.

    ●
    In
    order to protect the amounts held in the Trust Account, the Sponsor has agreed that it will be liable to the Company if and to the
    extent any claims by a third party (other than our independent registered public accounting firm) for services rendered or products
    sold to us,