Valuence Merger Corp. I Faces Delisting Notice
Ticker: VMCUF · Form: 8-K · Filed: May 16, 2024 · CIK: 1892747
| Field | Detail |
|---|---|
| Company | Valuence Merger Corp. I (VMCUF) |
| Form Type | 8-K |
| Filed Date | May 16, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50, $1 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, spac
TL;DR
Valuence Merger Corp. I got a notice about possibly getting delisted.
AI Summary
Valuence Merger Corp. I filed an 8-K on May 16, 2024, reporting a notice of delisting or failure to satisfy continued listing rules as of May 10, 2024. The company, previously known as VMCA Sponsor, LLC and Valuence Merger Corp. I, is incorporated in Delaware with its fiscal year ending December 31.
Why It Matters
This filing indicates potential issues with Valuence Merger Corp. I's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant event that can lead to severe consequences for a company's stock.
Key Players & Entities
- Valuence Merger Corp. I (company) — Registrant
- VMCA Sponsor, LLC (company) — Former Company Name
- May 10, 2024 (date) — Date of earliest event reported
- May 16, 2024 (date) — Filing Date
FAQ
What is the specific reason for Valuence Merger Corp. I's notice of delisting or failure to satisfy continued listing rules?
The filing does not specify the exact reason for the delisting notice, only that it is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing'.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 10, 2024.
What was Valuence Merger Corp. I formerly known as?
Valuence Merger Corp. I was formerly known as VMCA Sponsor, LLC and also previously as Valuence Merger Corp. I.
What is the business address of Valuence Merger Corp. I?
The business address is 4 Orinda Way, Suite 100D, Orinda, CA 94563.
What is the SIC code for Valuence Merger Corp. I?
The Standard Industrial Classification (SIC) code is 6770, which falls under 'BLANK CHECKS'.
Filing Stats: 906 words · 4 min read · ~3 pages · Grade level 13.6 · Accepted 2024-05-16 17:00:27
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
- $1 million — ny's outstanding warrants was less than $1 million and the Company was therefore no longer
Filing Documents
- form8-k.htm (8-K) — 48KB
- 0001493152-24-020282.txt ( ) — 271KB
- vmca-20240510.xsd (EX-101.SCH) — 4KB
- vmca-20240510_def.xml (EX-101.DEF) — 27KB
- vmca-20240510_lab.xml (EX-101.LAB) — 37KB
- vmca-20240510_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): May 10, 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 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously reported, on June 14, 2023, Valuence Merger Corp. I (the "Company") received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating that the aggregate market value of the Company's outstanding warrants was less than $1 million and the Company was therefore no longer in compliance with Listing Rule 5452(b)(C). The Company submitted a compliance plan and was granted an extension to December 11, 2023 to regain compliance with Listing Rule 5452(b)(C). On May 10, 2024, the Company received a written notice (the "Notice") from Nasdaq stating that the Company had not regained compliance with Listing Rule 5452(b)(C) and that Nasdaq had determined to commence proceedings to delist the Company's warrants from the Nasdaq Global Market. Unless the Company requests a hearing to appeal this determination or submits an application to transfer the listing of its warrants from the Nasdaq Global Market to the Nasdaq Capital Market by 4:00 p.m. Eastern Time on May 17, 2024, trading in the warrants will be suspended at the opening of business on May 21, 2024. The Company intends to submit an application to transfer the listing of its warrants from the Nasdaq Global Market to the Nasdaq Capital Market at or before 4:00 p.m. ET on May 17, 2024. While such application is pending, the delisting of the warrants will be suspended. Accordingly, the Notice will have no current effect on the listing or trading of the Company's warrants on Nasdaq. Additionally, the Notice does not affect the listing or trading of the Company's Class A ordinary shares or units on Nasdaq. Forward-Looking This Current Report on Form 8-K contains forward-looking statements. Forward-looking statements are statements that are not historical facts, nor assurances of future performance. Instead, they are based on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties, and actual results may differ materially from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, without limitation, the Company's ability to submit an application to transfer the listing of its warrants from the Nasdaq Global Market to the Nasdaq Capital Market before the deadline,