Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 28

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 28
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 their Public Shares will not be reduced by the deferred underwriting commissions
we will pay to the underwriters of our IPO. The redemption rights include the requirement that a beneficial holder must identify itself
in order to validly redeem its Public Shares. Our Initial Shareholders, officers and directors have entered into a letter agreement with
us, pursuant to which they have agreed to waive their redemption rights with respect to their Founder Shares and any Public Shares they
may hold in connection with the completion of our initial Business Combination.

Limitations
on Redemptions

Our
proposed initial Business Combination may impose a minimum cash requirement for (i) cash consideration to be paid to the target or its
owners, (ii) cash for working capital or other general corporate purposes or (iii) the retention of cash to satisfy other conditions.
In the event the aggregate cash consideration we would be required to pay for all Class A ordinary shares that are validly submitted
for redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial Business Combination
exceed the aggregate amount of cash available to us, we will not complete the initial Business Combination or redeem any shares, and
all Class A ordinary shares submitted for redemption will be returned to the holders thereof. Although we have no current plans, we may,
however, raise funds through the issuance of equity-linked securities or through loans, advances or other indebtedness in connection
with our initial Business Combination, including pursuant to forward purchase agreements or backstop arrangements we may enter into following
the closing of the IPO, in order to, among other reasons, satisfy such net tangible assets or minimum cash requirements.

17

Further,
if we seek shareholder approval of our initial Business Combination and we do not conduct redemptions in connection with our initial
Business Combination pursuant to the tender offer rules, our Articles provides that a Public Shareholder, together with any affiliate
of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined under
Section 13 of the Exchange Act), will be restricted from redeeming its Public Shares with respect to more than an aggregate of 15% of
the shares sold in the Initial Public Offering (the “Excess Shares”). We believe the restriction described above will discourage
shareholders from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to redeem their shares
as a means to force us or our management to purchase their shares at a significant premium to the then-current market price or