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Vine Hill Capital Investment Corp. (VCIC) has submitted its Annual Report filing for the fiscal year ended December 31, 2024.
The report details the company's activities as a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
Vine Hill Capital Investment Corp. completed its Initial Public Offering on September 9, 2024, raising $220,000,000 through the sale of 22,000,000 units, each consisting of one Class A ordinary share and one-half of one redeemable warrant.
The company also completed a private placement of 5,500,000 warrants with its sponsor, Vine Hill Capital Sponsor I LLC, at a price of $1.00 per warrant, raising an additional $5,500,000.
Proceeds from the Initial Public Offering and private placement, totaling $221,100,000, were placed in a trust account and will be used to fund a business combination.
Vine Hill Capital Investment Corp. is led by a management team with prior experience in special purpose acquisition companies (SPACs), including Nicholas Petruska as Chief Executive Officer and Daniel Zlotnitsky as Chief Financial Officer.
The report outlines the company's business strategy to identify and acquire an industrial or services business with an enterprise value of approximately $500 million to $1 billion.
The company has not yet selected a target business for its initial business combination and continues to evaluate potential opportunities.
Vine Hill Capital Investment Corp. has until 21 months from the closing of the Initial Public Offering to complete a business combination, subject to shareholder approval for any extension.
The report includes detailed risk factors related to the company's search for a business combination, potential conflicts of interest, and the impact of various market conditions on its operations.
As of December 31, 2024, the company reported cash and cash equivalents of approximately $1,088,000 and working capital of approximately $1,218,000, excluding deferred compensation payable upon the completion of a business combination.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Vine Hill Capital Investment Corp. annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.