The issuer, a SPAC, offered 20,000,000 units which were listed on Nasdaq

Davis Polk advised the representative of the underwriters in connection with the initial public offering of 20,000,000 units of Valuence Merger Corp. I, for gross proceeds of $200 million. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant to purchase one Class A ordinary share of Valuence Merger Corp. I. The units were listed on the Nasdaq Capital Market under the symbol “VMCAU.”

Valuence Merger Corp. I is a newly incorporated special purpose acquisition company (SPAC) whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The focus of the management team, led by Sung Yoon Woo, Andrew Hyung, Sung Lee and Gene Cho, is to identify, merge with and partner with a business in Asia (excluding China, Hong Kong and Macau) with a particular focus on breakthrough technology in life sciences and/or sustainable technology.

The Davis Polk corporate team included partner Derek Dostal and associates Gil Savir and Brad Larkin. The tax team included partner Po Sit and associate Daniel L. Jose. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.

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