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VMCAF on OTC

Valuence Merger Corp. I

Valuence Merger Corp. I is a blank check company in the Cayman Islands.1 It is headquartered in Orinda, California.1 Its shares trade on OTC under the symbol VMCAF.1

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Last updated Oct 21, 2026.

Overview

$280.3KNet income, fiscal 20252

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  • TickerVMCAF on OTC1
  • IndustryBlank Checks1
  • HeadquartersOrinda, California1
  • Incorporated inCayman Islands3
  • Business address4 Orinda Way, Suite 100D, Orinda, Ca 945633
  • Filer category, Emerging growth company3

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Class B ordinary shares were forfeited, resulting in the Sponsor and Valuence Partners LP holding an aggregate of 5,502,490 Founder Shares.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income562-$423.5K in 2025−84% since 2022
-$3.0M-$2.0M-$1.0M0$1.0M2022: -$2.6M-$2.6M20222023: -$1.4M-$1.4M2023−47%2024: $482.5K$482.5K20242025: -$423.5K-$423.5K2025
Net income562$280.3K in 2025−56% since 2022
0$2.0M$4.0M$6.0M2022: $630.6K$630.6K20222023: $4.8M$4.8M2023+657%2024: $2.4M$2.4M2024−50%2025: $280.3K$280.3K2025−88%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2025-12-312024-12-31
General and administrative expenses$595.4K$1.1M
Recoveries of previously incurred costs-$171.9K-$1.6M
(Loss) Income from operations-$423.5K$482.5K
Interest earned on cash and investments held in Trust Account$703.8K$1.9M
Total other income$703.8K$1.9M
Net income$280.3K$2.4M

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Corporate structure

Valuence Merger Corp. I sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Valuence Merger Corp. I

  • Valuence Merger Corp. I Orinda, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Valuence Merger Corp. I reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$684.8K5 Dec 31, 2023$319.2K5 Dec 31, 2022+114.5%
Deposits held (banks)$28.0K6 Sep 27, 2024$20.7M2 Mar 8, 2022−99.9%

Properties, in its own words

We currently maintain our executive offices at 4 Orinda Way, Suite 100D, Orinda, California 94563. We consider our current office space adequate for our current operations.

Item 2 of the 10-K filed Mar 31, 2026.4

Leadership

Who has led Valuence Merger Corp. I, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Sung Yoon Woo2022

President

  1. Sungsik (sung) Lee2022

Chief financial officer

  1. Sungwoo Andrew Hyung2022

Chief operating officer

  1. Gene Young Cho2022
2025
Board members and other officers (6)

Timeline

  1. Oct 5, 20268-K Other events20
  2. Sep 4, 20268-K Other events21
  3. Aug 4, 20268-K Other events22
  4. Jul 7, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation23
  5. Jul 6, 20268-K Other events24
  6. Jun 4, 20268-K Other events25
  7. May 19, 20268-K Executive or director change26
  8. May 4, 20268-K Other events27
  9. Mar 3, 20268-K Entered a material agreement; New debt or obligation; Bylaws or fiscal year changed28
  10. Feb 4, 20268-K Other events29
  11. Jan 5, 20268-K Other events30
  12. Dec 4, 20258-K Other events31
  13. Feb 28, 2022New chief executive Sung Yoon Woo becomes CEO12

Filings

147 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 49 major events, 13 insider forms, 32 large holders, 33 other. The latest 20:

  1. Oct 5, 20268-K EDGAR
  2. Sep 4, 20268-K EDGAR
  3. Aug 14, 202610-Q EDGAR
  4. Aug 4, 20268-K EDGAR
  5. Jul 7, 20268-K EDGAR
  6. Jul 6, 20268-K EDGAR
  7. Jun 4, 20268-K EDGAR
  8. May 19, 20268-K EDGAR
  9. May 15, 202610-Q EDGAR
  10. May 4, 20268-K EDGAR
  11. Mar 31, 202610-K EDGAR
  12. Mar 3, 20268-K EDGAR
  13. Feb 10, 2026DEF 14A EDGAR
  14. Feb 4, 20268-K EDGAR
  15. Jan 30, 2026PRE 14A EDGAR
  16. Jan 5, 20268-K EDGAR
  17. Dec 4, 20258-K EDGAR
  18. Nov 14, 202510-Q EDGAR
  19. Nov 4, 20258-K EDGAR
  20. Oct 7, 20258-K EDGAR

The 147 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Valuence Merger Corp. I is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARValuence Merger Corp. I1
  • CIK0001892747
  • Employer ID (EIN)00-00000004
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company4
  • Incorporated inCayman Islands4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6770 Blank Checks1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address4 Orinda Way, Suite 100D, Orinda, CA 945631
  • Phone(646) 770-60021
  • Shares outstanding5,965,726 Common Class A shares; 2 Common Class B shares as of Mar 31, 20264
  • Public float$22.8M as of Jun 30, 20254
  • AuditorWithumSmith+Brown, PC, New York, New York PCAOB ID 1004
  • On EDGAR sinceNov 12, 20211
  • Filings147 in all: 8-K (49), SC 13G (15), 10-Q (14), SC 13G/A (14), 3 (11), CORRESP (9), 10-K (4), DEF 14A (3)1
    All 27 form types

    DEFA14A (3), PRE 14A (3), UPLOAD (3), 4 (2), S-1/A (2), SCHEDULE 13G/A (2), 10-K/A (1), 10-Q/A (1), 25-NSE (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), EFFECT (1), NT 10-Q (1), PRER14A (1), S-1 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Feb 10, 2026
    Latest 8-K (8-K) Oct 5, 2026

Risk factors and legal proceedings

The risks Valuence Merger Corp. I names in Item 1A of its 10-K filed Mar 31, 2026: 77 risks under these headings, as written.4

  • Risks Relating to our Search for, Consummation of, or Inability to Consummate, a Business Combination and Post-Business Combination Risks
  • We are a recently incorporated company with no operating history and no revenues, and you have no basis on which to evaluate our ability to achieve our business objective.
  • Our Public Shareholders may not be afforded an opportunity to vote on our proposed Business Combination, which means we may complete our initial Business Combination even though a majority of our Public Shareholders do not support such a combination.
  • Although we have identified general criteria and guidelines that we believe are important in evaluating prospective target businesses, we may enter into our initial Business Combination with a target that does not meet such criteria and guidelines, and as a result, the target business with which we enter into our initial Business Combination may not have attributes entirely consistent with our general criteria and guidelines.
  • Your only opportunity to affect the investment decision regarding a potential Business Combination will be limited to the exercise of your right to redeem your shares from us for cash, unless we seek shareholder approval of the Business Combination.
  • The ability of our Public Shareholders to redeem their shares for cash may make our financial condition unattractive to potential Business Combination targets, which may make it difficult for us to enter into a Business Combination with a target.
  • The ability of our Public Shareholders to exercise redemption rights with respect to a large number of our shares may not allow us to complete the most desirable Business Combination or optimize our capital structure.
  • The ability of our Public Shareholders to exercise redemption rights with respect to a large number of our shares could increase the probability that our initial Business Combination would be unsuccessful and that you would have to wait for liquidation in order to redeem your shares.
  • The requirement that we complete our initial Business Combination within the prescribed time frame under our Articles may give potential target businesses leverage over us in negotiating a Business Combination and may decrease our ability to conduct due diligence on potential Business Combination targets as we approach our dissolution deadline, which could undermine our ability to complete our initial Business Combination on terms that would produce value for our shareholders.
  • We may not be able to complete our initial Business Combination within the prescribed time frame and/or we may not elect to further extend our Combination Period, in which case we would cease all operations except for the purpose of winding up and we would redeem our Public Shares and liquidate, in which case our Public Shareholders may, based on estimates as of December 31, 2025, receive approximately $12.43 per share, or less than such amount in certain circumstances, and there will be no liquidating distributions with respect to our warrants.
  • Our current life term is on a month-to-month basis and our existence is subject to our Board of Directors’ sole discretion, as well as contingent on the deposit of monthly Current Extension Contributions into the Trust Account. If the Board of Directors elects not to extend the Combination Period, or the Sponsor fails to deposit the Current Extension Contribution, we would cease all operations except for the purpose of winding up and we would redeem our Public Shares and liquidate.
  • Our search for a Business Combination, and any target business with which we may ultimately consummate a Business Combination, may be materially adversely affected by difficult market and geopolitical conditions.
The other 65 risks
  • If we seek shareholder approval of our initial Business Combination, our Sponsor, directors and officers and their affiliates may elect to purchase Public Shares or Public Warrants from shareholders, which may reduce the public “float” of the Class A ordinary shares and Public Warrants.
  • If a shareholder fails to receive notice of our offer to redeem its Public Shares in connection with our initial Business Combination, or fails to comply with the procedures for tendering its shares, such shares may not be redeemed.
  • You will not have any rights or interests in funds from the Trust Account, except under certain limited circumstances. To liquidate your investment, therefore, you may be forced to sell your Public Shares or Public Warrants, potentially at a loss.
  • You will not be entitled to protections normally afforded to investors of many other blank check companies.
  • If the net proceeds of the IPO and the sale of Private Placement Warrants not being held in the Trust Account are insufficient to allow us to operate for at least the Combination Period, we may be unable to complete our initial Business Combination.
  • Subsequent to the completion of our initial Business Combination, we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and our share price, which could cause you to lose some or all of your investment.
  • If third parties bring claims against us, the proceeds held in the Trust Account could be reduced and the per-share redemption amount received by shareholders may be less than $12.43 per share, which is the estimated per share amount held in our Trust Account as of December 31, 2025.
  • Our directors may decide not to enforce the indemnification obligations of our Sponsor, resulting in a reduction in the amount of funds in the Trust Account available for distribution to our Public Shareholders.
  • If, after we distribute the proceeds in the Trust Account to our Public Shareholders, we file a bankruptcy or winding-up petition or an involuntary bankruptcy or winding-up petition is filed against us that is not dismissed, a bankruptcy or insolvency court may seek to recover such proceeds, and the members of our Board of Directors may be viewed as having breached their fiduciary duties to our creditors, thereby exposing the members of our Board of Directors and us to claims of punitive damages.
  • If, before distributing the proceeds in the Trust Account to our Public Shareholders, we file a bankruptcy or winding-up petition or an involuntary bankruptcy or winding-up petition is filed against us that is not dismissed, the claims of creditors in such proceeding may have priority over the claims of our shareholders and the per-share amount that would otherwise be received by our shareholders in connection with our liquidation may be reduced.
  • Our shareholders may be held liable for claims by third parties against us to the extent of distributions received by them upon redemption of their shares.
  • We may not hold an annual general meeting until after the consummation of our initial Business Combination. Our Public Shareholders will not have the right to appoint directors prior to the consummation of our initial Business Combination.
  • If we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may make it difficult for us to complete our initial Business Combination or force us to abandon our efforts to complete an initial Business Combination.
  • Because we are not limited to a particular industry or any specific target businesses with which to pursue our initial Business Combination, you will be unable to ascertain the merits or risks of any particular target business’s operations.
  • We may seek acquisition opportunities in industries or sectors that may be outside of our management’s areas of expertise.
  • We may seek acquisition opportunities with a financially unstable business or an entity lacking an established record of revenue or earnings.
  • We are not required to obtain an opinion from an independent investment banking or from an independent registered public accounting firm, and consequently, you may have no assurance from an independent source that the price we are paying for the business is fair to our Company from a financial point of view.
  • Because we must furnish our shareholders with target business financial statements, we may lose the ability to complete an otherwise advantageous initial Business Combination with some prospective target businesses.
  • Compliance obligations under the Sarbanes-Oxley Act may make it more difficult for us to effectuate our initial Business Combination, require substantial financial and management resources, and increase the time and costs of completing an acquisition.
  • We do not have a specified maximum redemption threshold. The absence of such a redemption threshold may make it possible for us to complete a Business Combination with which a substantial majority of our shareholders do not agree.
  • In order to effectuate an initial Business Combination, blank check companies have, in the recent past, amended various provisions of their charters and modified governing instruments. We cannot assure you that we will not seek to further amend our Articles or governing instruments in a manner that will make it easier for us to complete our initial Business Combination that our shareholders may not support.
  • We may reincorporate in another jurisdiction in connection with our initial Business Combination, and the laws of such jurisdiction may govern some or all of our future material agreements and we may not be able to enforce our legal rights.
  • The provisions of our Articles that relate to our pre-initial Business Combination activity (and corresponding provisions of the agreement governing the release of funds from our Trust Account), may be amended with the approval of holders of at least two-thirds of our ordinary shares who attend and vote in a general meeting, which is a lower amendment threshold than that of some other blank check companies. It may be easier for us, therefore, to amend our Articles and the IMTA to facilitate the completion of an initial Business Combination that some of our shareholders may not support.
  • We may be unable to obtain additional financing to complete our initial Business Combination or to fund the operations and growth of a target business, which could compel us to restructure or abandon a particular Business Combination.
  • Resources could be wasted in researching acquisitions that are not completed, which could materially adversely affect subsequent attempts to locate and acquire or merge with another business. If we are unable to complete our initial Business Combination, our Public Shareholders may, based on estimates as of December 31, 2025 receive approximately $12.43 per share, or less than such amount in certain circumstances, on the liquidation of our Trust Account and there will be no liquidating distributions with respect to our warrants.
  • Our key personnel may negotiate employment or consulting agreements with a target business in connection with a particular Business Combination. These agreements may provide for them to receive compensation following our initial Business Combination and as a result, may cause them to have conflicts of interest in determining whether a particular business combination is the most advantageous.
  • We may have a limited ability to assess the management of a prospective target business and, as a result, may affect our initial Business Combination with a target business whose management may not have the skills, qualifications or abilities to manage a public company.
  • If we effect our initial Business Combination with a company with operations or opportunities outside of the United States, we would be subject to a variety of additional risks that may negatively impact our operations.
  • We may issue notes or other debt securities, or otherwise incur substantial debt, to complete a Business Combination, which may adversely affect our leverage and financial condition and thus negatively impact the value of our shareholders’ investment in us.
  • We may only be able to complete one Business Combination with the proceeds of the IPO and the sale of the Private Placement Warrants, which will cause us to be solely dependent on a single business which may have a limited number of products or services. This lack of diversification may negatively impact our operations and profitability.
  • We may attempt to simultaneously complete Business Combinations with multiple prospective targets, which may hinder our ability to complete our initial Business Combination and give rise to increased costs and risks that could negatively impact our operations and profitability.
  • We may attempt to complete our initial Business Combination with a private company about which little information is available, which may result in a Business Combination with a company that is not as profitable as we suspected, if at all.
  • Because we intend to seek a Business Combination with a target business or businesses in the healthcare industry and whose principal business operations are based in Asia (excluding China, Hong Kong and Macau), we expect our future operations to be subject to risks associated with this industry.
  • We may seek acquisition opportunities with an early stage company, a financially unstable business or an entity lacking an established record of revenue or earnings, which could subject us to volatile revenues or earnings, intense competition and difficulties in obtaining and retaining key personnel.
  • We may seek Business Combination opportunities with a high degree of complexity that require significant operational improvements, which could delay or prevent us from achieving our desired results.
  • Risks Relating to our Sponsor and Management Team
  • Our ability to successfully effect our initial Business Combination will be dependent upon the efforts of our key personnel, some of whom may join us following our initial Business Combination. The loss of key personnel could negatively impact the operations and profitability of our post-combination business.
  • We are dependent upon our officers and directors and their departure could adversely affect our ability to operate.
  • Since our Initial Shareholders, executive officers and directors will lose their entire investment in us if our initial Business Combination is not completed, a conflict of interest may arise in determining whether a particular target is appropriate for our initial Business Combination.
  • Certain of our officers and directors will allocate their time to other businesses thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete our initial Business Combination.
  • Certain of our officers and directors are now, and all of them may in the future become, affiliated with entities engaged in business activities similar to those intended to be conducted by us and, accordingly, may have conflicts of interest in determining to which entity a particular business opportunity should be presented.
  • Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests.
  • We may engage in a Business Combination with one or more target businesses that have relationships with entities that may be affiliated with our Initial Shareholders, officers, directors or existing holders which may raise potential conflicts of interest.
  • Our management may not be able to maintain control of a target business after our initial Business Combination. We cannot provide assurance that, upon loss of control of a target business, new management will possess the skills, qualifications or abilities necessary to profitably operate such business.
  • We may not have sufficient funds to satisfy indemnification claims of our officers and directors.
  • Any negative developments involving our management, directors and persons or companies with which they are currently or have been affiliated, including civil disputes, litigation, government or other investigations or other actual or alleged misconduct, unrelated to our business affairs could materially impact our ability to consummate an initial Business Combination.
  • Risks Relating to our Securities
  • Nasdaq has delisted our securities from trading on its exchange, which could limit investors’ ability to make transactions in our securities and subject us to additional trading restrictions.
  • If we seek shareholder approval of our initial Business Combination and we do not conduct redemptions pursuant to the tender offer rules, and if you or a “group” of shareholders are deemed to hold in excess of 15% of our Class A ordinary shares, you will lose the ability to redeem all such shares in excess of 15% of our Class A ordinary shares as issued in the IPO.
  • We may issue additional Class A ordinary shares or preference shares to complete our initial Business Combination or under an employee incentive plan after completion of our initial Business Combination. We may also issue Class A ordinary shares upon the conversion of the Class B ordinary shares at a ratio greater than one-to-one at the time of our initial Business Combination as a result of the anti-dilution provisions contained in our Articles. Any such issuances would dilute the interest of our shareholders and likely present other risks.
  • We did not register the Class A ordinary shares issuable upon exercise of the warrants under federal or any state securities laws, and such registration may not be in place when an investor desires to exercise warrants, thus precluding such investor from being able to exercise its warrants except on a cashless basis and potentially causing such warrants to expire worthless.
  • The grant of registration rights to our Initial Shareholders and holders of our Private Placement Warrants may make it more difficult to complete our initial Business Combination, and the future exercise of such rights may adversely affect the market price of our Class A ordinary shares.
  • Provisions in our Articles may inhibit a takeover of us, which could limit the price investors might be willing to pay in the future for our Class A ordinary shares and could entrench management.
  • If we seek shareholder approval of our initial Business Combination, our Initial Shareholders, officers and directors have agreed to vote in favor of such initial Business Combination, regardless of how our Public Shareholders vote. In addition, our Initial Shareholders hold substantial interest in us and, as a result, may exert a substantial influence on actions requiring shareholder vote, potentially in a manner that you do not support.
  • A provision of our warrant agreement may make it more difficult for us to consummate an initial Business Combination.
  • Our warrant agreement designates the courts of the State of New York or the United States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our warrants, which could limit the ability of warrant holders to obtain a favorable judicial forum for disputes with our Company.
  • We may amend certain agreements related to the IPO without shareholder approval. We may also amend the terms of the Public Warrants in a manner that may be adverse to holders of Public Warrants with the approval by the holders of at least 50% of the then outstanding Public Warrants.
  • The Public Warrants may become exercisable and redeemable for a security other than the Class A ordinary shares, and you will not have any information regarding such other security at this time.
  • To the extent our warrants ever become exercisable, we may redeem your unexpired Public Warrants prior to their exercise at a time that is disadvantageous to you, thereby making your Public Warrants worthless.
  • Our management’s ability to require holders of our Public Warrants to exercise such warrants on a cashless basis will cause holders to receive fewer Class A ordinary shares upon their exercise of the Public Warrants than they would have received had they been able to exercise their warrants for cash.
  • Our warrants and Founder Shares may have an adverse effect on the market price of our Class A ordinary shares and make it more difficult to effectuate our initial Business Combination.
  • If we are unable to consummate our initial Business Combination within the Combination Period, our Public Shareholders may be forced to wait beyond the Combination Period before redemption from our Trust Account.
  • General Risk Factors
  • Past performance by our management team and their respective affiliates may not be indicative of future performance of an investment in us.
  • Cyber incidents or attacks directed at us or third parties could result in information theft, data corruption, operational disruption and/or financial loss.
  • We may be a passive foreign investment company, or “PFIC,” which could result in adverse U.S. federal income tax consequences to U.S. investors.
  • We are an emerging growth company and a smaller reporting company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to emerging growth companies or smaller reporting companies, this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
  • Because we are incorporated under the laws of the Cayman Islands, you may face difficulties in protecting your interests, and your ability to protect your rights through the U.S. Federal courts may be limited.

Legal proceedings

To the knowledge of our management, there was no material litigation, arbitration or governmental proceeding pending against us or any members of our management team in their capacity as such, and we and the members of our management team have not been subject to any such proceeding.

The opening of Item 3, Legal Proceedings.4

Sources

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