Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 29

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 at an exercise price of $11.50 per whole share (see Note 7).

    12

VALUENCE
MERGER CORP. I

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

NOTE
4 - PRIVATE PLACEMENT

Simultaneously
with the closing of the Initial Public Offering, the Sponsor, together with Valuence Partners LP, an investment fund affiliated with
the Sponsor, purchased an aggregate of 6,666,667 Private Placement Warrants, consisting of 2,666,667 Private Placement Warrants issued
to the Sponsor and 4,000,000 Private Placement Warrants issued to Valuence Partners LP, at a price of $1.50 per Private Placement Warrant,
for an aggregate purchase price of $10,000,000. On March 8, 2022, in connection with the underwriters’ election to partially exercise
their over-allotment option, the Company sold an additional 267,995 Private Placement Warrants to the Sponsor, at a price of $1.50 per
Private Placement Warrant, generating gross proceeds of $401,993. Each Private Placement Warrant is exercisable to purchase one Class
A ordinary share at a price of $11.50 per share, subject to adjustment (see Note 7). A portion of the proceeds from the Private Placement
Warrants was added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business
Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants will be used to fund the redemption
of the Public Shares (subject to the requirements of applicable law). There will be no liquidating distributions with respect to the
Private Placement Warrants.

NOTE
5 - RELATED PARTY TRANSACTIONS

Founder
Shares

On
October 4, 2021, the Sponsor paid $25,000 to cover certain offering costs of the Company in consideration for 5,750,000 Class B ordinary
shares. The Founder Shares included an aggregate of up to 750,000 shares that were subject to forfeiture depending on the extent to which
the underwriters’ over-allotment option was exercised, so that the number of Founder Shares would equal, on an as-converted basis,
approximately 20% of the Company’s issued and outstanding ordinary shares after the Initial Public Offering (assuming each of the
Sponsor and