Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 92

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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 price of $1.50 per Private Placement
Warrant in a private placement, consisting of 2,666,667 Private Placement Warrants issued to our Sponsor and 4,000,000 Private Placement
Warrants issued to Valuence Partners LP, generating gross proceeds of $10,000,000.

Simultaneously
with the exercise of the over-allotment, we consummated the sale of an additional 267,995 Private Placement Warrants to the Sponsor,
generating gross proceeds of $401,993.

Offering
costs for the IPO and the exercise of the underwriters’ over-allotment option amounted to $10,718,994, consisting of $4,000,000
of underwriting fees, net of $2,200,996 reimbursed from the underwriters, $8,105,480 of deferred underwriting fees payable (which are
held in the Trust Account) and $814,510 of other costs. The $8,105,480 of deferred underwriting fee payable is contingent upon the consummation
of a Business Combination, subject to the terms of the underwriting agreement.

Following
the closing of the IPO and partial exercise of the over-allotment, $226,702,619 ($10.30 per Unit) from the net proceeds of the sale of
the Units in the IPO and the Private Placement Warrants was placed in the Trust Account and was invested in U.S. government securities,
within the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less or in any open-ended
investment company that holds itself out as a money market fund selected by us meeting the conditions of paragraphs (d)(2), (d)(3) and
(d)(4) of Rule 2a-7 of the Investment Company Act, as determined by us, until the earlier of (i) the completion of a Business Combination
and (ii) the distribution of the Trust Account. On March 1, 2024, the Company entered into the IMTA Amendment, which provides that the
trustee of the Trust Account may, at the direction of the Company (i) hold funds uninvested, (ii) hold funds in an interest-bearing or
non-interest bearing bank demand deposit account at a U.S. chartered commercial bank with consolidated assets of $100 billion or more
selected by the trustee that is reasonably satisfactory to the Company, or (iii)