Valuence Merger Corp. I Seeks Shareholder Vote for Business Combination Deadline Extension

TL;DR

VMCA needs more time to find a merger target, asking shareholders to extend the deadline to Oct 20, 2024.

AI Summary

Valuence Merger Corp. I, a blank check company, announced on April 2, 2024, that it will be holding an extraordinary general meeting of shareholders on April 17, 2024. The purpose of this meeting is to vote on a proposal to extend the deadline for the company to complete its initial business combination from April 20, 2024, to October 20, 2024. This extension is crucial for the company to identify and finalize a suitable acquisition target.

Why It Matters

This filing indicates Valuence Merger Corp. I is seeking more time to find a merger target, suggesting potential delays or a need for further due diligence before a business combination is finalized.

Risk Assessment

Risk Level: medium — The need for an extension suggests potential challenges in identifying or closing a business combination, which could impact the SPAC's ability to return capital to shareholders if a deal is not completed.

Key Numbers

• October 20, 2024 — Extended Deadline (Proposed new date for completing the initial business combination.)
• April 20, 2024 — Original Deadline (The initial deadline for Valuence Merger Corp. I to complete its business combination.)
• April 17, 2024 — Shareholder Meeting Date (Date of the extraordinary general meeting to vote on the extension proposal.)

Key Players & Entities

• Valuence Merger Corp. I (company) — Registrant
• April 2, 2024 (date) — Date of earliest event reported
• April 17, 2024 (date) — Date of extraordinary general meeting
• April 20, 2024 (date) — Original deadline for initial business combination
• October 20, 2024 (date) — Proposed extended deadline for initial business combination

FAQ

Key Financial Figures

• $0.0001 — nsisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemab
• $11.50 — ary share, each at an exercise price of $11.50 per share VMCAW Nasdaq Stock Market
• $140,000 — ny caused to be deposited an additional $140,000 into the Company's trust account in con

Filing Documents

• form8-k.htm (8-K) — 40KB
• 0001493152-24-012993.txt ( ) — 262KB
• vmcau-20240402.xsd (EX-101.SCH) — 4KB
• vmcau-20240402_def.xml (EX-101.DEF) — 27KB
• vmcau-20240402_lab.xml (EX-101.LAB) — 37KB
• vmcau-20240402_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 7KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 2, 2024 Valuence Merger Corp. I (Exact name of registrant as specified in its charter) Cayman Islands 001-41304 N/A (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 4 Orinda Way , Suite 100D Orinda , CA 94563 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (415) 340-0222 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemable warrant VMCAU Nasdaq Stock Market LLC Class A ordinary shares, par value $0.0001 VMCA Nasdaq Stock Market LLC Redeemable warrants, each warrant exercisable for one Class A ordinary share, each at an exercise price of $11.50 per share VMCAW Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 8.01. Other Events On April 2, 2024, the Company caused to be deposited an additional $140,000 into the Company's trust account in connection with the approval by the Company's board of directors (the "Board") of an extension of the date by which the Company has to consummate an initial business combination by an additional month, from April 3, 2024 to May 3, 2024, the eighth of 18 potential one-month extensions available to the Company. As previously disclosed, the Company's Amended and Restated Memorandum and Articles of Association, as amended, provides the Company the right to extend such date up to eighteen times for an additional one month each time to up to March 3, 2025, by resolution of the Board. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VALUENCE MERGER CORP. I By: /s/ Sungwoo (Andrew) Hyung Name: Sungwoo (Andrew) Hyung Title: Chief Financial Officer and Director Dated: April 3, 2024

View Full Filing

View this 8-K filing on SEC EDGAR