Valuence Merger Corp. I extends business combination deadline to Sep 3, 2023 via sponsor loans

Valuence Merger Corp. I

Shareholders approved extension of outside date from June 3, 2023 to Sep 3, 2023; board may extend up to Mar 3, 2025.
Sponsor VMCA Sponsor LLC issued a convertible promissory note of up to $613,208; Valuence Partners LP note up to $1,650,943.
On June 5, 2023, $420,000 drawn from notes and deposited into trust account for the three-month extension.
Notes are non-interest bearing, repayable upon business combination or liquidation; up to $1.5M may convert into warrants at $1.50 each.
After redemptions, 6,210,718 public shares remain; sponsor deposit of $0.084 per public share funded the extension.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Valuence Merger Corp. I entered into Notes with VMCA Sponsor, LLC and Valuence Partners LP valued at principal amount up to $613,207.55 to Sponsor and up to $1,650,943.40 to Valuence Partners (effective 2023-06-05).

Action: entry
Counterparty: VMCA Sponsor, LLC and Valuence Partners LP
Value: principal amount up to $613,207.55 to Sponsor and up to $1,650,943.40 to Valuence Partners
Effective: 2023-06-05

Exact text from the filing

on June 5, 2023, the Company issued a convertible promissory note to the Sponsor with a principal amount up to $613,207.55 and issued a convertible promissory note to Valuence Partners with a principal amount up to $1,650,943.40 (together, the “Notes”).

View on SEC.gov

281 material agreements filed in the last 30 days. Browse all material agreements →

Valuence Merger Corp. I filing history →

Source: SEC EDGAR

accession 0001493152-23-020744

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.