Company: VMCWF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023470
Chunk: 44

Company: Valuence Merger Corp. I
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 deposit account at a U.S. chartered commercial bank with consolidated assets of $100 billion or more
selected by the trustee that is reasonably satisfactory to the Company, or (iii) invest and reinvest the Property (as defined in the
IMTA) in solely United States government securities within the meaning of Section 2(a)(16) of the Investment Company Act, having a maturity
of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated
under the Investment Company Act (or any successor rule), which invest only in direct U.S. government treasury obligations, as determined
by the Company. On the same day, pursuant to the IMTA Amendment, the Company instructed Continental Stock Transfer and Trust Company
to move the Trust Account out of an investment in securities and into an interest-bearing bank deposit account. As a result, the remaining
proceeds from the IPO and sale of Private Placement Warrants are no longer invested in U.S. government securities or money market funds.
Investing in our securities is not intended for persons who are seeking a return on investments in government securities or investment
securities.

18

In
connection with May 2023 Meeting, as described below, shareholders holding an aggregate of 15,799,245 Class A ordinary shares properly
exercised their right to redeem their shares for $167,831,206. After the satisfaction of such redemptions, the balance in our Trust Account
was approximately $65.7 million. In connection June 2024 Meeting, shareholders holding an aggregate of 4,343,316 Class A ordinary shares
properly exercised their right to redeem their shares for $49,900,380. After the satisfaction of such redemptions, the balance in our
Trust Account was approximately $22,444,007 as of June 30, 2025.

We
intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust
Account (less taxes payable), to complete our Business Combination. To the extent that our capital stock or debt is used, in whole or
in part, as consideration to complete our Business Combination, the remaining proceeds held in the Trust Account will be used as working
capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.

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