Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 98

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 should a Business Combination not occur, and potential subsequent
dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made
to the carrying amounts of assets or liabilities should the Company be required to liquidate after the end of the Combination Period
(up to March 3, 2026, if we, with shareholder approval, elect to further extend the Combination Period monthly to such deadline). Based
on the foregoing, management believes that the Company will not have sufficient working capital and borrowing capacity from the Sponsor
or an affiliate of the Sponsor, or certain of the Company’s officers and directors to meet its needs through the earlier of the
consummation of a Business Combination or one year from this Annual Report. However, the Working Capital Loans and the June 2024 Note
will provide additional flexibility to continue our identification and pursuit of potential Business Combination targets. Over this time
period, the Company will be using available funds, including those from the Working Capital Loans, for the purpose of paying existing
accounts payable, identifying and evaluating prospective initial Business Combination candidates, performing due diligence on prospective
target businesses, paying for travel expenditures, selecting the target business to merge with or acquire, and structuring, negotiating
and consummating the Business Combination.

Off-Balance
Sheet Financing Arrangements

We
have no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of June 30, 2025. We do not participate
in transactions that create relationships with entities or financial partnerships, often referred to as variable interest entities, which
would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance
sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased
any non-financial assets.

Contractual
Obligations

Other
than the Contribution Notes and June 2024 Note previously disclosed in this Annual Report, we do not have any long-term debt, capital
lease obligations, operating lease obligations or long-term liabilities. The underwriters are entitled to a deferred underwriting commissions
of $0.35 per Unit, or $8,105,480 from the closing of the IPO. The deferred fee will become payable to the underwriters from the amounts
held in the Trust Account solely if we complete a Business Combination, subject to the terms of the underwriting agreement.

JOBS
Act

On
April 5,