Vendome Acquisition Corp I (NASDAQ: VNMEU)

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 1 or more businesses. The company has not commenced any operating activities and does not generate any revenue from products or services. It intends to finance its initial business combination using cash from the trust account, its own shares, debt or any combination thereof. The sponsor, Vendome Acquisition Sponsor I LLC, provided initial seed capital and a loan to support pre‑offering expenses.

Prior to a business combination, the company’s only source of income is interest earned on marketable securities held in the trust account established from its initial public offering. On July 3, 2025 the company sold 20,000,000 units at $10.00 per unit, generating gross proceeds of $200,000,000. Simultaneously it completed a private placement of 2,648,000 warrants at $1.00 per warrant, adding $2,648,000 to the trust. After deducting underwriting fees of $1,000,000 and other offering costs of $1,105,782, the trust received $200,000,000. As of September 30, 2025 the trust account held investments valued at $202,068,698, reflecting interest income net of expenses. The company also maintains cash outside the trust account, amounting to $399,771 as of the same date, to cover operating expenses such as legal, accounting, auditing and due diligence costs. For the 9 month period ended September 30, 2025 net income was $1,820,558, consisting of $2,068,698 of interest income offset by $248,140 of formation and operating expenses. The sponsor may provide additional working capital through a convertible note of up to $840,000, which can be drawn down at the company’s discretion and converted into Class A ordinary shares at the sponsor’s option. The company also may receive working capital loans from the sponsor, its affiliates or certain directors and officers, each of which may be converted into Class A ordinary shares under similar terms.

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Vendome Acquisition Corporation I operates in the special purpose acquisition company sector, where it competes with numerous other blank check vehicles that seek to acquire target businesses through a similar process. The industry is marked by a large number of newly formed entities raising capital in anticipation of a future combination, and the company’s sponsor and management team are typical of those found in other SPACs.

The company presently has no customer base because it has not engaged in any commercial operations. Its future customers will be those of the business it ultimately combines with, which has not yet been identified.