Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 84

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 84
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sold in the IPO, which we refer to as the “Excess Shares.” However, we would not be restricting our shareholders’ ability
to vote all of their shares (including Excess Shares) for or against our initial Business Combination. Your inability to redeem the Excess
Shares will reduce your influence over our ability to complete our initial Business Combination and you could suffer a material loss
on your investment in us if you sell Excess Shares in open market transactions. Additionally, you will not receive redemption distributions
with respect to the Excess Shares if we complete our initial Business Combination. As a result, you would continue to hold that number
of shares exceeding 15% and, in order to dispose of such shares, would be required to sell your shares in open market transactions, potentially
at a loss.

We
may issue additional Class A ordinary shares or preference shares to complete our initial Business Combination or under an employee incentive
plan after completion of our initial Business Combination. We may also issue Class A ordinary shares upon the conversion of the Class
B ordinary shares at a ratio greater than one-to-one at the time of our initial Business Combination as a result of the anti-dilution
provisions contained in our Articles. Any such issuances would dilute the interest of our shareholders and likely present other risks.

Our
Articles authorize the issuance of up to 180,000,000 Class A ordinary shares, par value $0.0001 per share, 20,000,000 Class B ordinary
shares, par value $0.0001 per share and 1,000,000 undesignated preference shares, par value $0.0001 per share. We have 7,369,890 Class
A ordinary shares, 2 Class B ordinary shares, and 17,939,643 warrants issued and outstanding. Warrants are exercisable at $11.50 beginning
30 days after an initial Business Combination. Class B ordinary shares are convertible into Class A ordinary shares, initially at a one-for-one
ratio but subject to adjustment as set forth herein and in our Articles. Since the IPO, there is no preference shares issued and outstanding.

We
may issue a substantial number of additional ordinary shares, and may issue preference shares, in order to complete our initial Business
Combination or under an employee incentive plan after completion of our initial Business Combination. We may also issue Class A ordinary
shares upon conversion of the Class B ordinary shares at a ratio greater than one-to-one at the time of our initial