Vendome Acquisition Corp I, a blank check company focused on high-potential businesses in the United States, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational status as it continues to seek a suitable target for a business combination.
Financial Highlights
- Net Income: $1.82 million. The net income for the three months ended September 30, 2025, and for the period from January 28, 2025 (inception) through September 30, 2025, was primarily driven by interest income earned on cash held in the Trust Account.
- Basic and diluted net income per ordinary share: $0.10. This reflects the earnings per share for redeemable shares for the three months ended September 30, 2025.
- Basic and diluted net income per ordinary share: $0.26. This reflects the earnings per share for redeemable shares for the period from January 28, 2025 (inception) through September 30, 2025.
- Basic and diluted net loss per ordinary share: $(0.01). This reflects the loss per share for non-redeemable shares for the three months ended September 30, 2025.
- Basic and diluted net loss per ordinary share: $(0.02). This reflects the loss per share for non-redeemable shares for the period from January 28, 2025 (inception) through September 30, 2025.
Business Highlights
- Business Model and Purpose: Vendome Acquisition Corporation I is a 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 is focused on high-potential businesses based in the United States.
- Operational Status: As of September 30, 2025, the company had not commenced any operations. All activities to date have been related to the company's formation and the initial public offering.
- Initial Public Offering: On July 3, 2025, the company completed its Initial Public Offering, raising $200 million through the sale of 20,000,000 units at $10.00 per unit. This capital is intended to be used for a future business combination.
- Trust Account: The proceeds from the IPO are held in a trust account, which will be used to fund the business combination. The trust account is invested in U.S. government securities or money market funds.
- Future Business Combination: The company intends to complete a business combination within 24 months from the IPO closing date. The management has broad discretion in selecting a target business, with a focus on ensuring the target has a fair market value of at least 80% of the net assets held in the trust account.
- Management's Strategy: The management team is actively seeking a suitable target for a business combination, leveraging their expertise to identify high-potential opportunities in the U.S. market.
- Risks and Uncertainties: The company acknowledges various risks, including geopolitical tensions and market volatility, which could impact its ability to complete a business combination.
- Liquidity and Capital Resources: The company has sufficient working capital and borrowing capacity to meet its needs through the earlier of the consummation of a business combination or one year from the filing date.
- Forward-Looking Statements: The company is optimistic about completing a business combination and is focused on identifying a target that aligns with its strategic objectives. However, there is no assurance of success in these endeavors.
SEC Filing: