Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 828

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 828
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 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) invest and reinvest the Property (as defined in the
IMTA) in solely United States government securities within the meaning of Section 2(a)(16) of the Investment Company Act, having a maturity
of 185 days or 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. On the same day