Company: PCAP
Filing Date: 2025-04-11
Form Type: DRS/A
Source: 0001213900-25-030769
Chunk: 194

Company: ProCap Acquisition Corp
Filing Date: 2025-04-11
Form: DRS/A
Chunk 194
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 by proxy. Our sponsor, officers and directors will count toward this quorum and, pursuant to the letter agreement, our sponsor, officers and directors have agreed to vote their founder shares, private placement shares and any public shares purchased during or after this offering (including in open market and privately -negotiatedtransactions, aside from shares they may purchase in compliance with the requirements of Rule 14e -5under the Exchange Act, which would not be voted in favor of approving the business combination transaction) in favor of our initial business combination. As a result, if all issued and outstanding shares are voted on a resolution to approve our initial business combination, in addition to our initial shareholders’ founder shares, if we would require an ordinary resolution, we would need 7,285,001 public shares, or 36.43% of the 20,000,000 public shares sold in this offering, and if we would require a special resolution of two -thirdsof our ordinary shares voted at the meeting, we would need 11,523,334 public shares, or 57.62% of the 20,000,000 public shares sold in this offering, to be voted in favor of an initial business combination in order to have our initial business combination approved, assuming all outstanding shares are voted, the over -allotmentoption is not exercised and the parties to the letter agreement do not acquire any Class A ordinary shares. Assuming that only the holders of one -thirdof our issued and outstanding ordinary shares, representing a quorum under our amended and restated memorandum and articles of association, vote their ordinary shares, regardless of whether such vote pertains to an ordinary resolution or a special resolution of two -thirdsof our ordinary shares voted at the meeting, we would not need any public shares in addition to our founder shares to be voted in favor of an initial business combination in order to approve an initial business combination. In addition, prior to the closing of our initial business combination, only holders of our Class B ordinary shares (i) will have the right to appoint and remove directors prior to or in connection with the completion of our initial business combination and (ii) will be entitled to vote on continuing our company in a jurisdiction outside the Cayman Islands (including any special resolution required to amend our constitutional documents or to adopt new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the Cayman Islands). These quorum and voting thresholds, and the voting agreement of our sponsor