Company: PCAP
Filing Date: 2025-04-30
Form Type: S-1
Source: 0001213900-25-037771
Chunk: 227

Company: ProCap Acquisition Corp
Filing Date: 2025-04-30
Form: S-1
Chunk 227
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 of the securities held by the sponsor, such as to another member of the sponsor or their affiliate, a family member or a new member of the sponsor, may be permitted with the prior consent of Mr. Pompliano, the sole member of our sponsor, as long as such transfer complies with the applicable transfer restrictions with respect to such securities to the same extent as the party originally subject to such restrictions. Registration Rights The holders of the (i) founder shares, which were issued in a private placement prior to the closing of this offering, (ii) private placement units which will be issued in a private placement simultaneously with the closing of this offering and the Class A ordinary shares underlying such private placement units and (iii) private placement units and units that may be issued upon conversion of working capital loans will have registration rights to require us to register a sale of any of our securities held by them and any other securities of the company acquired by them prior to the consummation of our initial business combination pursuant to a registration rights agreement to be signed prior to or on the effective date of this offering. Pursuant to the registration rights agreement and assuming $1,500,000 of working capital loans are converted into private placement -equivalentunits, we will be obligated to register up to 6,330,000 Class A ordinary shares and approximately 193,333 Class A ordinary shares that may be issued upon exercise of the warrants underlying the private placement units. The number of Class A ordinary shares includes (i) 5,750,000 Class A ordinary shares to be issued upon conversion of the founder shares, (ii) 580,000 Class A ordinary shares underlying the private placement units, and (iii) 193,333 Class A ordinary shares that may be issued upon exercise of the warrants underlying the private placement units. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy -back” registration rights with respect to registration statements filed subsequent to our completion of our initial business combination. We will bear the expenses incurred in connection with the filing of any such registration statements. 149 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS On January 9, 2025, our sponsor purchased, and the Company issued to the sponsor, 5,750,000 Class B ordinary shares for paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs. The number of