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VCIC

Vine Hill Capital Investment Corp.

VCIC

Vine Hill Capital Investment Corp. • NASDAQ
$10.71 ▼ -0.37% (-0.04)
Market Cap $307.73 M
52w High $11.99
52w Low $10.00
Dividend Yield 0%
P/E 0
Volume 68.38K
Outstanding Shares 28.73M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $1.829M ▲ $586K ▼ 0% $0.02 ▼ $-1.829M ▼
Q2-2025 $0 $575K ▲ $1.824M ▼ 0% $0.062 ▼ $-575K ▼
Q1-2025 $0 $521K ▼ $1.854M ▲ 0% $0.063 ▲ $-521K ▼
Q4-2024 $0 $783K ▲ $1.804M ▲ 0% $0.061 ▲ $0 ▲
Q3-2024 $0 $241K $518K 0% $0.018 $-241K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $431K ▼ $232.076M ▲ $234.537M ▲ $-2.461M ▼
Q2-2025 $606K ▼ $229.887M ▲ $9.172M ▲ $220.715M ▲
Q1-2025 $818K ▼ $227.765M ▲ $8.873M ▼ $218.892M ▲
Q4-2024 $1.088M ▼ $225.645M ▲ $232.901M ▲ $-7.256M ▼
Q3-2024 $1.416M $223.41M $8.176M $215.234M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $586K ▼ $-175K ▲ $0 $0 $-175K ▲ $-175K ▲
Q2-2025 $1.823M ▼ $-212K ▲ $0 $0 $-212K ▲ $-212K ▲
Q1-2025 $1.854M ▲ $-270K ▲ $0 $0 ▲ $-270K ▲ $-270K ▲
Q4-2024 $1.804M ▲ $-290K ▲ $0 ▲ $-38K ▼ $-328K ▼ $-290K ▲
Q3-2024 $518 $-390K $-221.1M $222.906M $1.416M $-390K

Five-Year Company Overview

Income Statement

Income Statement VCIC’s current income statement is essentially that of an empty shell. It has no operating revenue and no meaningful expenses beyond basic corporate and deal-related costs. The small reported profit per share is more an accounting outcome than evidence of a functioning business. In practical terms, there is no ongoing operating performance to evaluate yet; the future economics depend almost entirely on whether the CoinShares merger closes and how the combined business performs afterwards.

Balance Sheet

Balance Sheet The balance sheet is very light, which is typical for a SPAC. There is a modest base of assets and equity, and no debt, suggesting a clean starting point with little financial baggage. At this stage, VCIC mainly represents a pool of capital and a listing vehicle rather than a company with significant tangible operations or hard assets. The real balance-sheet story will only become meaningful after the CoinShares assets and liabilities are folded in, if and when the transaction is completed.

Cash Flow

Cash Flow Cash flows are minimal and largely administrative. There is no operating cash inflow from a business, no investment activity in assets, and no meaningful capital spending. This is normal for a SPAC: its purpose is to hold funds and search for a target, not to run day‑to‑day operations. Future cash generation or consumption will depend entirely on the digital asset management activities of CoinShares after the merger, including fee income, trading operations, and product development costs.

Competitive Edge

Competitive Edge On its own, VCIC has no real competitive position; it is a blank-check company. The relevant competitive picture is that of CoinShares, which will effectively become the operating engine of the combined entity. CoinShares brings an established brand in European digital asset investing, deep regulatory approvals across multiple regimes, and a long history as an early mover in crypto exchange‑traded products. Its scale, licenses, and institutional relationships create real barriers to entry. However, the digital asset space remains highly competitive, fast‑moving, and vulnerable to regulatory shifts and market sentiment, so this moat is strong but not unassailable.

Innovation and R&D

Innovation and R&D VCIC itself does not conduct traditional R&D; the innovation comes from CoinShares. That platform has been a product and technology pioneer: early crypto exchange‑traded products, physically backed structures, integration of staking rewards into investment vehicles, an algorithmic trading platform for retail users, and advanced indexing and thematic strategies around areas like bitcoin mining. Looking ahead, CoinShares is also exploring tokenization of real‑world assets and differentiated strategies for the U.S. market instead of plain, single‑asset crypto trackers. In this business, “R&D” shows up as constant product design, trading infrastructure upgrades, and new ways to bridge traditional finance and blockchain technologies.

Summary

VCIC today is a financial shell with clean but minimal financials, no revenue, and no real operations, which is standard for a SPAC. The entire investment narrative revolves around the proposed merger with CoinShares and the creation of Odysseus Holdings. If completed, the combined company would inherit a well‑known European digital asset manager with strong regulatory credentials, a history of innovation in crypto investment products, and ambitions to expand in the U.S. and into new areas like asset tokenization. The opportunity is tied to growing institutional and retail adoption of digital assets and to CoinShares’ ability to launch differentiated, higher‑margin products rather than commodity offerings. The risks are equally clear: regulatory changes, crypto market volatility, shifting investor appetite for digital assets, and execution risk around U.S. expansion and integration. Overall, VCIC’s standalone numbers matter far less than the outcome and long‑term performance of the CoinShares transaction, which remains subject to approvals and market conditions.

NEWS

November 26, 2025 · 1:32 PM UTC

CoinShares and Vine Hill Announce Confidential Submission of Draft Registration Statement

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November 26, 2025 · 8:40 AM UTC

CoinShares and Vine Hill Announce Confidential Submission of Draft Registration Statement

Read more

November 26, 2025 · 8:04 AM UTC

CoinShares and Vine Hill Announce Confidential Submission of Draft Registration Statement

Read more

October 2, 2025 · 8:00 AM UTC

CoinShares Set to Acquire Bastion Asset Management to Strengthen Actively Managed Digital Asset Capabilities

Read more