Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 854

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 854
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 A ordinary shares, or equity-linked
securities, are issued or deemed issued in excess of the amounts sold in the IPO and related to the closing of the Business Combination,
the ratio at which Class B ordinary shares shall convert into Class A ordinary shares will be adjusted (unless the holders of a majority
of the issued and outstanding Class B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance
or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal,
in the aggregate, 20% of the sum of all ordinary shares outstanding upon completion of the IPO plus all Class A ordinary shares and equity-linked
securities issued or deemed issued in connection with the Business Combination (excluding any shares or equity-linked securities issued,
or to be issued, to any seller in the initial Business Combination and any private placement-equivalent warrants issued to our Initial
Shareholders or their affiliates upon conversion of loans made to us). Holders of Founder Shares may also elect to convert their Class
B ordinary shares into an equal number of Class A ordinary shares, subject to adjustment as provided above, at any time. The term “equity-linked
securities” refers to any debt or equity securities that are convertible, exercisable or exchangeable for our Class A ordinary
shares issued in a financing transaction in connection with our initial Business Combination, including but not limited to a private
placement of equity or debt. Securities could be “deemed issued” for purposes of the conversion adjustment if such shares
are issuable upon the conversion or exercise of convertible securities, warrants or similar securities.

With
certain limited exceptions, the Founder Shares are not transferable, assignable or salable (except to our officers and directors and
other persons or entities affiliated with our Initial Shareholders, each of whom will be subject to the same transfer restrictions) until
the earlier of (A) one year after the completion of our initial Business Combination or (B) subsequent to our initial Business Combination,
(x) if the last sale price of the Class A ordinary shares equal or exceed $12.00 per share (as adjusted for share sub-divisions, share
capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any
30-trading day period commencing at least 150 days after our initial Business Combination, or (y) the date following the completion of
our initial Business Combination on which we complete