Vine Hill Capital Investment, a blank check company targeting the industrial and services industries, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The Fort Lauderdale, FL-based company is led by CEO and Director Nicholas Petruska, who has served in a variety of capacities with other SPACs, most recently Hennessy Capital's Hennessy Capital Investment VI (HCVI; +6% from $10 offer price), which has a pending merger agreement with gold miner Namib Minerals. Executive Director Dean Seavers was most recently Chair of the Utility Board of PG&E following its emergence from bankruptcy, a director of the SPAC that merged with Greenlight Biosciences (former ticker: GRNA), and President of National Grid US and Executive Director of National Grid, PLC.
Vine Hill Capital Investment plans to target the industrial and services industries, focusing on businesses with enterprise values between $500 million and $1 billion.
Vine Hill Capital Investment plans to list on the Nasdaq under the symbol VCICU. Stifel acted as sole bookrunner on the deal.
