Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 33

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 33
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 directors have agreed, pursuant to a written letter agreement with us, that they will not propose
any amendment to our Articles (i) that would modify the substance or timing of our obligation to provide for the redemption of our Public
Shares in connection with an initial Business Combination or to redeem 100% of our Public Shares if we do not complete our initial Business
Combination within the Combination Period or (ii) with respect to the other material provision relating to the rights of holders of Public
Shares, unless we provide our Public Shareholders with the opportunity to redeem their Public Shares upon approval of any such amendment
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest (which
interest shall be net of taxes payable) divided by the number of then outstanding Public Shares.

We
expect that all costs and expenses associated with implementing our plan of dissolution, as well as payments to any creditors, will be
funded from amounts remaining out of the proceeds of our IPO and private placement held outside the Trust Account, although we cannot
assure you that there will be sufficient funds for such purpose. However, if those funds are not sufficient to cover the costs and expenses
associated with implementing our plan of dissolution, to the extent that there is any interest accrued in the Trust Account not required
to pay taxes, we may request the trustee to release to us an additional amount of up to $100,000 of such accrued interest to pay those
costs and expenses.

If
we were to expend all of the net proceeds of the IPO and the sale of the Private Placement Warrants, other than the proceeds deposited
in the Trust Account, and without taking into account interest, if any, earned on the Trust Account, the per-share redemption amount
received by shareholders upon our dissolution was initially estimated at approximately $10.30. As of December 31, 2024, the per share
amount held in our Trust Account is estimated to be approximately $11.89. The proceeds deposited in the Trust Account could, however,
become subject to the claims of our creditors which would have higher priority than the claims of our Public Shareholders. While we intend
to pay such amounts, if any, we cannot assure you that we will have funds sufficient to pay or provide for all creditors’ claims.
Accordingly, we cannot assure you that the actual per-share redemption amount received by shareholders will not be substantially less
than $11.89.

Although
we will seek