Valuence Merger Corp. I’s $200 Million Initial Public Offering

Davis Polk advised the representative of the underwriters, SVB Securities LLC and Robert W. Baird & Co. Incorporated in the IPO. Walkers acted as Cayman Islands counsel to Valuence Merger Corp. I. Sheppard, Mullin, Richter & Hampton LLP acted as US counsel to the SPAC.

Valuence Merger Corp. I announced the initial public offering of 20,000,000 units, 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 (Picture) 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.

The Walkers team was led by Hong Kong-based partner Nicholas Davies, with support from senior associate Kevin Ho.

Involved fees earner: Derek Dostal – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Daniel Jose – Davis Polk & Wardwell; Brad Larkin – Davis Polk & Wardwell; Gil Savir – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Nicholas Davies – Walkers Global; Kevin Ho – Walkers Global;

Law Firms: Davis Polk & Wardwell; Walkers Global;

Clients: Robert W. Baird & Co.; SVB Leerink LLC; Valuence Merger Corp. I;