Valuence Merger I entered into a $1.5 million zero-interest convertible promissory note with VMCA Sponsor to support operations while it pursues a business combination. The note matures upon the earlier of completing a business combination or liquidation and may be repaid from funds outside the trust if no deal closes. At maturity, the sponsor may convert the outstanding principal into warrants at $1.50 per warrant, up to an aggregate $1.5 million across sponsor notes, with terms matching the SPAC’s private placement warrants.
Agreement details:
- Agreement type: Unsecured zero-interest convertible promissory note
- Counterparty: VMCA Sponsor
- Signed / Effective: Feb 27 2026 / Feb 27 2026
- Duration / Termination: Until business combination or liquidation
- Reason: Support extension contributions and working capital pending business combination
Original SEC Filing:
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