Company: VMCWF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023515
Chunk: 15

Company: Valuence Merger Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 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 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, 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 the lesser
of (x) $30,000 or (y) $0.015 per public share multiplied by the number of Public Shares outstanding (the “New Contributions”).
In connection with the June 2024 Meeting, holders of 4,343,316 Class A ordinary shares subject to possible redemption exercised their
right to redeem such shares. As a result, the Company paid $49,900,380 (or $11.49 per share) to the redeeming shareholders. After redemptions
the Company had 1,867,402 Class A ordinary shares subject to possible redemption outstanding.

    7

VALUENCE
MERGER CORP. I

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

In
connection