Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 6

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
20,106 

The
accompanying notes are an integral part of these unaudited condensed financial statements.

4

VALUENCE
MERGER CORP. I

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

NOTE
1- DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Valuence
Merger Corp. I (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on August 27, 2021.
The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or entities (a “Business Combination”).

The
Company is not limited to a particular industry or sector for purposes of consummating a Business Combination. However, the Company intends
to concentrate its efforts in identifying a potential Business Combination partner that is based in Asia (excluding China, Hong Kong
and Macau) and who is developing breakthrough technology in life sciences and/or advancing a platform for sustainable technology. The
Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early
stage and emerging growth companies.

As
of June 30, 2025, the Company had not commenced any operations. All activity for the period from August 27, 2021 (inception) through
June 30, 2025 relates to the Company’s formation, the initial public offering (“Initial Public Offering” or “IPO”),
and subsequent to the Initial Public Offering, identifying a target company for a Business Combination, which is described below. The
Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company generates
non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.

The
registration statement for the Company’s Initial Public Offering was declared effective on February 28, 2022. On March 3, 2022,
the Company consummated the Initial Public Offering of 20,000,000 units (the “Units” and, with respect to the Class A ordinary
shares included in the Units being offered, the “Public Shares”). Each Unit consists of one of the Company’s Class
A ordinary shares, par value $0.0001 per share (the “Class A ordinary shares”) and one-half