Core Viewpoint - CoinShares International Limited is progressing with a merger with Vine Hill Capital Investment Corp, with a court hearing scheduled for February 17, 2026, to discuss the proposed business combination [1][2]. Transaction Progress - The directions hearing is a significant procedural step in the Scheme of Arrangement, where the Court will approve shareholder documentation and direct the necessary shareholder meetings [2]. - Following court approval, CoinShares plans to publish the Scheme Circular around February 18, 2026, and Odysseus Holdings Limited will publish the Swedish offer document around February 25, 2026 [3]. Path to U.S. Listing - CoinShares and Odysseus Holdings Limited submitted a draft registration statement on Form F-4 to the SEC on November 21, 2025, and will provide updates on the timeline after further engagement with the SEC [4]. Transaction Valuation - The merger values CoinShares at USD 1.2 billion, based on the Company's 2024 full-year adjusted EBITDA, which was generated when bitcoin averaged USD 65,964, compared to current prices of approximately USD 90,000 [5]. Completion Conditions - The completion of the transaction is subject to customary closing conditions, including shareholder approvals, court acts, effectiveness of the F-4, and local regulatory approvals [6]. Company Background - CoinShares is a leading global digital asset manager, providing a range of financial services to various clients, and is regulated by multiple financial authorities [7]. - Vine Hill is a special purpose acquisition company (SPAC) that completed a USD 220 million IPO in September 2024 and is focused on unlocking shareholder value through public markets [8].
CoinShares Announces Royal Court of Jersey Hearing Date as U.S. Listing Transaction Advances