Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 242

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 242
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 a result of their substantial ownership in our Company, our Initial Shareholders may exert a substantial influence on other
actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments to our Articles and approval
of major corporate transactions. Accordingly, our Initial Shareholders will exert significant influence over actions requiring a shareholder
vote at least until the completion of our initial Business Combination.

We
have the right to extend the Combination Period, on a monthly basis, up to March 3, 2026 without providing our shareholders a corresponding
vote or redemption right provided that our Sponsor or its designee deposits $28,011 each month into our Trust Account. If we choose not
to extend the Combination Period on the month-to-month basis, we would cease all operations except for the purpose of winding up and
we would redeem our Public Shares and liquidate, in which case our Public Shareholders may, based on estimates as of December 31, 2024,
receive approximately $11.89 per share, or less than such amount in certain circumstances, and there will be no liquidating distributions
with respect to our warrants.

We
initially had until 15 months (or up to 18 months or 21 months, as applicable) following the effectiveness of the IPO to consummate an
initial Business Combination. However, on May 25, 2023, we held the May 2023 Meeting, where shareholders approved, among other things,
an amendment to our Articles to extend the date by which the Company must consummate our initial Business Combination from June 3, 2023
to the Combination Period and to allow us, without another shareholder vote, by resolution of the Board of Directors, to elect to further
extend the Combination Period until up to March 3, 2025. The extension to the Combination Period required a $420,000 deposit into the
Trust Account by the Contributors and the election to further extend the Combination Period requires us to (i) cause the deposit of $140,000
each month into the Trust Account and (ii) approve the extension by the resolution of the Board of Directors.

On
June 3, 2024, we held the June 2024 Meeting, where shareholders approved an amendment to our Articles to further extend the date by which
the Company must consummate our initial Business Combination from June 3, 2024 for an initial two month period to August 3, 2024 and
to allow us, without another shareholder vote