Company: VMCWF
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023515
Chunk: 36

Company: Valuence Merger Corp. I
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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.

Class
A ordinary shares -  The Company is authorized to issue 180,000,000 Class A ordinary shares, with a par
value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. On June 3, 2024, pursuant to
the terms of the Articles, the Sponsor and Valuence Partners LP elected to convert an aggregate of 5,502,488 Class B ordinary shares
held by them on a one-for-one basis into Class A ordinary shares. At each of September 30, 2025 and December 31, 2024, there were 7,369,890
Class A ordinary shares issued and outstanding, which included 1,867,402 ordinary shares subject to redemption, respectively.

    15

VALUENCE
MERGER CORP. I

NOTES
TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER
30, 2025

Class
B ordinary shares -  The Company is authorized to issue 20,000,000 Class B ordinary shares, with a par value of
$0.0001 per share. Holders of the Class B ordinary shares are entitled to one vote for each share. The Founder Shares included an aggregate
of up to 750,000 shares subject to forfeiture if the over-allotment option is not exercised by the underwriters in full. On March 8,
2022, the underwriters partially exercised their over-allotment option resulting in 502,490 Class B ordinary shares no longer subject
to forfeiture. On April 14, 2022, the over-allotment option expired, and 247,510 Class B ordinary shares were forfeited. On June 3, 2024,
pursuant to the terms of the Articles, the Sponsor and Valuence Partners LP elected to convert an aggregate of 5,502,488 Class B ordinary
shares held by them on a one-for-one basis into Class A ordinary shares. At September 30, 2025 and December 31, 2024, there were 2 Class
B ordinary shares issued and outstanding, respectively.

Holders
of Class A ordinary shares and Class B ordinary shares will vote together as a single class on all other matters submitted to a vote
of shareholders, except as required by law.

The
Class B ordinary shares will automatically convert into Class A