Loan & DebtJul 7, 2026, 04:12 PM
Valuence Merger Corp. I Restructures $1.87M Related-Party Debt
AI Summary
Valuence Merger Corp. I restructured $1.87 million in related-party indebtedness and advances. This involved terminating an undrawn $1.5 million convertible promissory note and a fully drawn $300,000 note. The company also settled $1.57 million in advances from related parties and issued three new convertible promissory notes totaling $1.87 million in initial deemed drawdowns to CPC I, CPC I Parallel, and NovoCG.
Key Highlights
- Terminated an undrawn $1.5 million convertible promissory note with VMCA Sponsor, LLC.
- Canceled a fully drawn $300,000 convertible promissory note with VMCA Sponsor, LLC.
- Settled $1.57 million in related-party advances from CPC I, CPC I Parallel, and NovoCG.
- Issued three new convertible promissory notes with initial deemed drawdowns totaling $1.87 million.
- New notes bear no interest and are convertible into warrants at $1.50 per warrant.
Price Impact
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