Valuence Merger I

Valuence Merger I is a blank check company incorporated on August 27, 2021, in the Cayman Islands. Its sole purpose is to complete a business combination, such as a merger, share exchange, asset acquisition, share purchase, or reorganization, with one or more businesses or entities. The company does not focus on a specific industry or sector for this combination. However, it aims to find a target company based in Asia (excluding China, Hong Kong, and Macau) that is developing breakthrough technology in life sciences and/or advancing a platform for sustainable technology. As an early stage and emerging growth company, Valuence Merger I has not yet commenced any operations. All activities from its inception on August 27, 2021, through the date of this Annual Report, relate to its formation, its initial public offering (IPO), and the subsequent search for a target company for a business combination. The company will not generate operating revenues until after a business combination is completed. Its current income is non-operating, derived from interest earned on the proceeds from its IPO. The registration statement for the IPO became effective on February 28, 2022. On March 3, 2022, the company completed its IPO of 20,000,000 units. Each unit consists of one Class A ordinary share, par value $0.001 per share, and one-half of one redeemable warrant, with each warrant allowing the holder to purchase one Class A ordinary share for an initial exercise price of $11.50 per share.