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VCICW

Vine Hill Capital Investment Corp.

VCICW

Vine Hill Capital Investment Corp. • NASDAQ
$1.55 ▼ -3.13% (-0.05)
Market Cap $1.50 B
52w High $1.97
52w Low $1.54
Dividend Yield 0%
P/E 0
Volume 2
Outstanding Shares 965.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $1.829M ▲ $586K ▼ 0% $0.02 ▼ $0 ▲
Q2-2025 $0 $575K ▲ $1.824M ▼ 0% $0.083 ▲ $-575K ▼
Q1-2025 $0 $521K ▲ $1.854M ▲ 0% $0.063 ▲ $-521K ▲
Q4-2024 $0 $0 ▼ $1.804M ▲ 0% $0.061 ▲ $-783K ▼
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 ▲ $3.075M ▼ $-2.461M ▼
Q2-2025 $606K ▼ $229.887M ▲ $9.172M ▲ $220.715M ▲
Q1-2025 $818K ▼ $227.765M ▲ $8.873M ▲ $218.892M ▲
Q3-2024 $1.416M ▲ $223.41M ▲ $8.176M ▲ $215.234M ▲
Q2-2024 $0 $192K $208K $-16K

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 $518K $-390K $-221.1M $222.906M $1.416M $-390K

Five-Year Company Overview

Income Statement

Income Statement Vine Hill Capital is essentially a blank-check SPAC, so its own income statement is almost empty: no real revenue, no operating business, and only a small amount of residual earnings per share from the SPAC structure. That means current profitability tells you almost nothing about long‑term prospects; the real story will depend on CoinShares’ business after the merger, not on Vine Hill’s historical results as a shell company.

Balance Sheet

Balance Sheet The balance sheet is very simple and typical for a SPAC: small reported assets and equity, and no operating debt or tangible operating assets. Most of the economic value is tied to cash raised in the SPAC structure and the future combined company, not to the current balance sheet of Vine Hill itself. After the merger, the balance sheet will effectively be CoinShares’—with its own asset base, capital structure, and risk profile, which are not detailed here.

Cash Flow

Cash Flow Cash flows today are minimal and purely administrative. Vine Hill does not generate cash from operations, invest in productive assets, or pay dividends. Its cash profile will remain thin and transactional until the business combination closes. Once merged, cash generation, reinvestment, and capital returns will all depend on CoinShares’ ability to earn fees on digital asset products and manage market cycles in crypto.

Competitive Edge

Competitive Edge The competitive picture is really about CoinShares, since VCICW’s value is now tied to that merger. CoinShares holds a leading position in European crypto investment products, especially exchange‑traded products that give traditional investors exposure to digital assets. It benefits from early entry, strong branding with institutions, and deep familiarity with complex regulation across multiple countries. These strengths act as a meaningful barrier to new entrants, but the firm still faces intense competition from global asset managers and specialized crypto firms, especially as markets mature and fees face pressure.

Innovation and R&D

Innovation and R&D CoinShares’ edge comes from product innovation and technology rather than classic lab‑style R&D. It has been an early mover in physically backed and staked crypto products, builds indices and structured strategies, and runs a proprietary trading and infrastructure platform to support liquidity and risk management. The company is pushing into more actively managed crypto strategies and thematic products, expanding in the U.S. via ETF capabilities and acquisitions. It also signals interest in the intersection of digital assets and AI, suggesting an ongoing pipeline of new product ideas, though outcomes are uncertain and highly dependent on regulation and market acceptance.

Summary

VCICW represents warrants on a SPAC that plans to merge with CoinShares, a mature player in digital asset investment products. Vine Hill’s standalone financials are largely irrelevant for long‑term analysis, because it has no operating business, meaningful revenue, or cash flow; its balance sheet mainly reflects a shell structure. The real economic exposure is to CoinShares: a crypto asset manager with strong presence in Europe, a track record of product innovation, and ambitions to grow in the U.S. through new, more specialized offerings. Key strengths include regulatory experience, institutional‑grade infrastructure, and first‑mover status in several product types. Key risks include reliance on a volatile and heavily regulated crypto market, the need to keep innovating as competitors catch up, and execution risk in closing the merger and scaling in the U.S. Overall, this is a transition story from a cash shell to a crypto‑focused asset manager, with outcomes closely tied to digital asset market cycles and future regulatory developments.