secwatch.observer — SEC 8-K summary
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Issuer:     Valuence Merger Corp. I (VMCAF)
CIK:        0001892747
Form:       8-K
Filed at:   2023-06-09T23:59:59+00:00
Accession:  0001493152-23-020744
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1892747/000149315223020744/0001493152-23-020744-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1892747/000149315223020744/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-020744

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