Company: VMCWF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023515
Chunk: 12

Company: Valuence Merger Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 business with which the Company has entered into a letter of intent, confidentiality, or
other similar agreement for a Business Combination, reduce the amount of funds in the Trust Account to below the lesser of (1) $10.00
per Public Share and (2) such lesser amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust
Account due to reductions in the value of trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes.
This liability will not apply with respect to any claims by a third party who executed a waiver of any and all rights to seek access
to the Trust Account nor will it apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering
against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). In
the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent
of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify
the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (other than the Company’s independent
registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements
with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.

On
May 25, 2023, the Company held an extraordinary general meeting (the “May 2023 Meeting”), where shareholders approved, among
other things, an amendment to the Articles to extend the date by which the Company must consummate a Business Combination (the “Combination
Period”) from June 3, 2023 to September 3, 2023 and to allow the Company, without another shareholder vote, by resolution of the
Board of Directors of the Company (the “Board of Directors”), to elect to further extend the Combination Period in one-month
increments up to eighteen (18) additional times, or a total of up to thirty-six (36) months after the Initial Public Offering, until
up to March 3, 2025. In connection with such extensions to the Combination Period, the Sponsor or its designees was required to deposit
into the Trust Account, as a loan, $420,000 for the extension to September