Vendome Acquisition Corporation I Reports Net Income of $1.6M for Quarter Ending March 31, 2026

Vendome Acquisition Corporation I has released its quarterly report for the period ending March 31, 2026, revealing a net income of $1,601,866, primarily driven by investment income of $1,769,248 earned on cash held in trust. The company reported total expenses of $167,382, which were attributed to formation and operating costs. This marks a significant operational milestone for Vendome, as it had no revenue during the same period in the previous fiscal year, reflecting its early-stage status as a blank check company.

In terms of financial position, Vendome's total assets increased to $206.3 million as of March 31, 2026, up from $204.6 million at the end of the previous fiscal year. The increase was largely due to cash held in trust, which rose to $205.6 million, compared to $204 million at the end of December 2025. Current liabilities also increased to $257,418 from $169,138, primarily due to higher accrued expenses and related party payables. The company’s shareholders’ equity stood at $437,297, reflecting retained earnings of $436,797, an increase from $404,179 at the end of the previous quarter.

Vendome has not yet commenced any operational activities beyond its initial public offering (IPO), which took place on July 3, 2025, generating gross proceeds of $200 million from the sale of 20 million units. The company has also completed a private placement of 2,648,000 warrants, raising an additional $2.6 million. The funds from the IPO and private placement are intended to be used for a future business combination, although no specific target has been identified as of the reporting date.

As of March 31, 2026, Vendome had 20 million Class A ordinary shares and 5 million Class B ordinary shares outstanding. The company is classified as a smaller reporting company and an emerging growth company, which allows it to take advantage of certain regulatory exemptions. The management has indicated that it will continue to evaluate potential business combinations and expects to incur significant costs in this pursuit. The company has sufficient liquidity to meet its operational needs through the anticipated completion of a business combination or within one year from the filing date.

Looking ahead, Vendome's management remains optimistic about identifying suitable acquisition targets, although they acknowledge the inherent risks and uncertainties associated with the current market environment. The company has not yet generated any operating revenues and will rely on the proceeds from its trust account to fund its future operations and potential business combinations.