Valuence Merger Corp. I restructures $1.87M in related-party debt, issues new convertible notes

Valuence Merger Corp. I

Terminated undrawn $1.5M February 2026 note with sponsor VMCA Sponsor, LLC.
Canceled $300K June 2024 note and settled $1.57M in related-party advances (CPC I $446.9K, CPC I Parallel $373.1K, NovoCG $750K).
Issued three new convertible notes: CPC I up to $1.5M (initial draw $528.65K), CPC I Parallel up to $1.5M ($441.35K), NovoCG up to $3M ($900K).
New notes bear no interest, repayable upon business combination or liquidation; may convert into warrants at $1.50 per warrant (max $1.5M aggregate).
Restructuring reflects sponsor support but no new cash infusion; notes repaid only from funds outside trust if no business combination.

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