Company: PCAP
Filing Date: 2025-04-11
Form Type: DRS/A
Source: 0001213900-25-030769
Chunk: 136

Company: ProCap Acquisition Corp
Filing Date: 2025-04-11
Form: DRS/A
Chunk 136
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 wish to hold your warrants or (iii) accept the nominal redemption price which, at the time the outstanding warrants are called for redemption, is likely to be substantially less than the market value of your warrants. Our warrants may have an adverse effect on the market price of our Class A ordinary shares and make it more difficult to effectuate our initial business combination. We will be issuing public warrants to purchase approximately 6,666,666 of our Class A ordinary shares (or up to approximately 7,666,666 Class A ordinary shares if the underwriters’ over -allotmentoption is exercised in full) as part of the units offered by this prospectus and, simultaneously with the closing of this offering, we will be issuing in a private placement an aggregate of 430,000 private placement units (regardless of whether the underwriters’ over -allotmentoption is exercised in full or at all) at $10.00 per unit for an aggregate of $4,300,000. In addition, if the sponsor or any of its affiliates or any of our officers or directors makes any working capital loans, it or they may convert those loans into up to an additional 1,500,000 private placement -equivalentunits, at the price of $10.00 per unit. To the extent we issue ordinary shares to effectuate a business transaction, the potential for the issuance of a substantial number of additional Class A ordinary shares upon exercise of these warrants could make us a less attractive acquisition vehicle to a target business. Such warrants, when exercised, will increase the number of issued and outstanding Class A ordinary shares and reduce the value of the Class A ordinary shares issued to complete the business transaction. Therefore, our warrants may make it more difficult to effectuate a business transaction or increase the cost of acquiring the target business. Because each unit contains one-third of one warrant and only a whole warrant may be exercised, the units may be worth less than units of other SPACs. Each unit contains one -thirdof one warrant. Pursuant to the warrant agreement, no fractional warrants will be issued upon separation of the units, and only whole units will trade. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round down to the nearest whole number the number of Class A ordinary shares to be issued to the warrant holder. This is different from other offerings similar to ours whose units include one ordinary share and one whole warrant to purchase one share. We