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Vine Hill Capital Investment Corp.

VCIC · Nasdaq

Trust settledOdysseus (Cayman) Ltd · Finished

NO ACTION REQUIRED

Nothing left to do

The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.

Cash at settlement

no closing figure

No cash-per-share figure was filed for this vehicle before it finished.

Last close

no quote on file

Daily close

Nothing left to claim

this vehicle finished

There is nothing to hand back: holders who wanted cash elected it at the vote, and the rest became shares in the buyer.

Read what happened to the cash

The floor

Trust settled

This SPAC has finished — its trust was paid out or used to close the deal, so there is nothing left to redeem

Read the reasoning behind this verdict

No price history on file yet — daily closes accumulate from the market data feed.

Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.

SpacBrain’s read

Trust settled

The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

In plain terms

What it is
A SPAC from Hennessy Capital (Daniel Hennessy), listed on Nasdaq in September 2024.
What it's doing now
It agreed to buy Odysseus (Cayman) Ltd, a digital asset investment management company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
What you should know
This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.

At a glance

Where it stands
Closed (deSPAC)
The business it bought
Odysseus (Cayman) Ltd
Industry
Financials — digital asset investment management
Deal value
not stated in the filings we hold
Price vs cash at settlement
no live price on file
Cash in trust when it settled
not yet extracted into a snapshot — the filings below may state it
the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
IPO
9 September 2024
size not on file · 100.5% of each $10 unit into trust
Headquarters
2 HILL STREET, ST. HELIER, JE2-4UA
registered in the Cayman Islands
Lead underwriter
not extracted from the prospectus yet
Key officers
Petruska Nicholas A (CEO, MM of Vine Hill Sponsor I) · Adams John Charles (Director) · Zlotnitsky Daniel (Chief Financial Officer)
Listed securities
VCIC common
Cash held per sharenot filed for this window

This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.

Next date that mattersno dated event on file

Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.

Yield to redemption

Nothing left to redeem — no yield to compute.

This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.

What happened to the cash

The reasoning behind the verdict above, in the order the filings establish it.

  1. The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).

What has happened, and what is coming

1 dated milestone

Every dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.

  1. 9 September 2024IPOpassed

    IPO size not on file

The deal

terms as filed

What it is buying, on what terms, and how much of the combined company new shares take from you.

  • Odysseus (Cayman) Ltd—
    closedFinancials
    Deal structureSEC-primary — BCA 8-K / S-4 / DEFM14A
    PIPE
    ≈ $50M · unsourced

    PIPE terms — instrument, coupon, conversion price and any reset floor — are not sourced for this deal. The size above is itself unsourced — a stored figure no filing we hold states — so neither the size nor the terms should be read as cited.

    stated in:0001213900-26-028308 opens on sec.gov in a new tab

The score

deterministic, from filed fields

VCIC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.

Asymmetric return scoreNeither a price nor a cash-per-share figure is on file for this vehicle, and the score is a ratio between the two. Nothing is estimated to fill the gap.

The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.

See the names that are scored, and how

The company

from SEC filings
Read the full profile

Vine Hill Capital Investment Corp. is a Cayman Islands-incorporated blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company priced its initial public offering on September 9, 2024, raising $220 million by offering 22,000,000 units at $10.00 per unit, with units listed on Nasdaq under the symbol "VCICU" and Class A ordinary shares and warrants trading under "VCIC" and "VCICW," respectively. Each unit consisted of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable at $11.50 per share. Of the offering proceeds, $10.05 per unit was deposited into a U.S.-based trust account with Continental Stock Transfer & Trust Company as trustee. Stifel Nicolaus & Company served as sole book-running manager on a firm commitment basis. The sponsor, Vine Hill Capital Sponsor I LLC, purchased 7,666,667 Class B founder shares for $25,000 and subscribed to 5,500,000 private placement warrants at $1.00 per warrant in a concurrent private placement.

The company's management team was led by Chief Executive Officer Nicholas Petruska, the sole managing member of the sponsor, and Chief Financial Officer Daniel Zlotnitsky, with Dean Seavers serving as Executive Director. Vine Hill Capital Partners, the sponsor's affiliate, is described as a premier alternative investment manager dedicated to helping businesses achieve their full potential through leveraging the public markets. The company's amended and restated memorandum and articles of association provided a 21-month completion window from the closing of the offering to consummate an initial business combination, after which it would redeem all public shares if no transaction was completed. The company was headquartered at 500 E Broward Blvd., Suite 1710, Fort Lauderdale, FL 33394, with a registered office at 2 Hill Street, St. Helier, Jersey.

On September 8, 2025, Vine Hill announced a joint merger plan with CoinShares International Limited, a Jersey-based global digital asset manager listed on Nasdaq Stockholm, and Odysseus Holdings Limited, a newly formed Jersey entity, to facilitate CoinShares' change of listing venue from Nasdaq Stockholm to the Nasdaq Stock Market in the United States. The transaction valued CoinShares at approximately SEK 11.3 billion, or USD 1.2 billion, representing a premium of approximately 30.6 percent over CoinShares' closing share price on September 5, 2025. Under the terms, CoinShares shareholders were to receive 1.8237 new Odysseus Holdings shares for each CoinShares share, with Odysseus Holdings ultimately replacing Vine Hill as the listed entity on Nasdaq. A concurrent private placement of 6,666,667 ordinary shares at USD 10.04 per share raised approximately USD 50.05 million. The Scheme of Arrangement became effective on March 31, 2026, and Form 25 was filed the same day, confirming the transaction's completion and the closure of the SPAC vehicle.

Material findings

from the full read of every filing

Every document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.

  • DEFM14A16 March 20260001213900-26-028308opens on sec.gov in a new tab

    The Equity Exchange Ratio is Equity Value Per Share divided by $10.00, so the CoinShares holders' share count is derived from a valuation rather than fixed. The PIPE is 5,000,000 CoinShares shares for $50,000,000, and the PIPE Investor additionally receives 1,666,667 Commitment Fee Shares for the commitment alone, and may elect to reduce the number it is obliged to buy. Redemption would have been approximately $10.68 per public share at the record date, and Vine Hill's own expenses are reimbursable only up to $4,000,000.

  • PREM14A6 March 20260001213900-26-024672opens on sec.gov in a new tab

    Nothing a holder acts on moved between this version and the definitive proxy: the same Business Combination Agreement dated September 8, 2025, the same PIPE of 5,000,000 CoinShares shares for $50,000,000 plus 1,666,667 Commitment Fee Shares, and the same illustrative redemption price of approximately $10.68 per Vine Hill public share based on the trust balance at the record date. The registered totals are identical in both versions, so the ten-day interval changed no registered amount.

Filings

live EDGAR feed

Everything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.

Show the other 10 filings

The record

The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.

Show the reference detail

Unit structure

Cash in trust at IPO$10.05

Unit: U = S + W/2 · 100.5% of the $10 unit

from 424B4 0001213900-24-076738

Trading & liquidity

Average daily volume (20d)no volume reported on the bars we hold
Average daily $ volumeneeds both volume and a live price
Range over the bars heldnot enough price history
Total cash in trustthe trust total is not in the last XBRL stamp

Company profile

Industry (SIC)Security Brokers, Dealers & Flotation Companies (6211)
Registered inthe Cayman Islands
Exchange · CIKNasdaq · 0002025396

All filings on EDGARopens on sec.gov in a new tab

Directors & officers

Institutional holders

from SC 13G/13D

Funds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.

Show the declared stakes

5 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.

One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.

News

company wires and the financial press

Reporting we have matched to this ticker. Headlines belong to the outlets that wrote them.

Show the headlines

Sources on file

harvested pages, kept in full

Every public page we have read about this company, stored in full so a source can never go missing.

Show the sources

35 full SEC filing texts archived — searchable, never lost.

In plain English

tap a term to open it

Every piece of jargon this page could have used, and what it actually means.

Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected

A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.

Redemption deadlinethe last day to hand shares back for cash

Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.

Broker action datethe day your broker needs the instruction — earlier than the official date

Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.

Cash in trust / trust per sharethe cash the company is holding for each public share

Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.

Trust discountbuying below the cash held for you

Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.

Dilutionhow much of the company new shares take from you

Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.

Pro-forma equitywhat the company is valued at once the deal closes

The combined company's equity value assuming the announced terms and the redemptions that have actually happened.

ARShow much upside you get per unit of downside

SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.

De-SPACthe day the SPAC becomes the real company

The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.

Outside datethe contractual long-stop for closing the deal

A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.

Accession numberthe SEC's unique id for one filing

Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.

Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since

A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.

Ask the brain

from its filings
Data provenance & audit trail8 internal entries

Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.

VCIC — company record
UNIVERSE-IPO-INDEX2026-08-17

admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 6211 (Security Brokers, Dealers & Flotation Companies). The screen found it by filing SHAPE instead — S-1 2024-07-18 → 8-A12B 2024-09-05 → 424B4 2024-09-09 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 6211 + self-described blank check in 424B4 0001213900-24-076738; 424B 0001213900-24-076738 priced 2024-09-09 under S-1 0001213900-24-062556 (file 333-280880, an offering for cash); common ticker VCIC off 10-K 0001213900-26-035615 (2026-03-27); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-280880, which belongs to S-1 0001213900-24-062556 (2024-07-18) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2024-09-09). Ending PROVEN, not inferred: CLOSED per Form 25 0001354457-26-000314 (2026-03-31) — Form 25 filed under 17 CFR 240.12d2-2(a)(3) — the rule for securities that "have come to evidence other securities in substitution therefor", i.e. the shares became the successor's (class: Class A Ordinary Shares, Unit, Warrants). ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.

NAME REPAIR2026-08-18

name "Odysseus (Cayman) Ltd" -> "Vine Hill Capital Investment Corp.". The stored name was the entity that SURVIVED the combination: EDGAR renames a registrant in place when the merger sub survives, so submissions.json answers with the survivor's name while the vehicle's own sits in formerNames, and a bulk ingest reads the former. The name written here is COMPANY CONFORMED NAME in the SEC header of this registrant's OWN pricing prospectus — 424B4 acc 0001213900-24-076738, filed 2024-09-09, the same date as this row's ipoDate — and it agrees with EDGAR's separate rename record. Nothing else on the row was touched.

SPONSOR-ID2026-08-14

sponsor "Vine Hill Capital Sponsor I LLC" (SEC CIK 0002029854) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-24-076243.

OVERVIEW-CLEARED2026-08-31

the stored paragraph opened with a different company as the blank-check vehicle (a rename left the prose behind); overview.gen rewrites it from the corrected name. POSTMORTEMS §98

Deal — Odysseus (Cayman) Ltd
UNTAGGED

[CLOSED-RENAME] EDGAR CIK 0002025396 records "Vine Hill Capital Investment Corp." ending 2026-03-31; the registrant continues as "Odysseus (Cayman) Ltd". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2026-03-31. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=50 from primary filings (0001213900-26-028308).

PROFILE-STUB2026-08-25

entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read

PIPE2026-08-29

pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow

SEGMENT-FROM-FILING2026-03-20

OTHER -> CRYPTO, on 425 0001213900-26-032044: "CoinShares is a leading global digital asset manager that delivers a broad range of financial services across investment management, trading, and securities to "

Also listed inSPACs with warrants
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