Company: VMCWF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001827
Chunk: 88

Company: Valuence Merger Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 88
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 majority of the
votes cast by the Public Shareholders in connection with an initial Business Combination, our Initial Shareholders, officers and directors
have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote any
Founder Shares held by them, as well as any Public Shares purchased during or after the IPO, in favor of our initial Business Combination.
Based on the share ownership of our Initial Shareholders as of the date of this Annual Report, we expect that our Initial Shareholders
and their permitted transferees will own approximately 75% of our issued and outstanding ordinary shares at the time of any such shareholder
vote. As a result, our Initial Shareholders can approve the amendment of our Articles without the vote of any holders of Public Shares.
Accordingly, if we seek shareholder approval of our initial Business Combination, it is more likely that the necessary shareholder approval
will be received than would be the case if such persons agreed to vote their Founder Shares in accordance with the majority of the votes
cast by our Public Shareholders.

In
addition, as 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