Company: PCAP
Filing Date: 2025-04-11
Form Type: DRS/A
Source: 0001213900-25-030769
Chunk: 174

Company: ProCap Acquisition Corp
Filing Date: 2025-04-11
Form: DRS/A
Chunk 174
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 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. See “ Principal Shareholders — Restrictions on Transfers of Founder Shares and Private Placement Units .” Prior SPAC Experience Below are the SPAC business combinations in which members of our management team (excluding our advisor) have participated, along with certain other information: SPAC (Vesper Healthcare Acquisition Corp), Target (The Beauty Health Company).SPAC consummated its IPO on October 2, 2020 of 46,000,000 units, with each unit consisting of one Class A ordinary share and one -thirdof one redeemable warrant to purchase one Class A ordinary share exercisable at $11.50 per share, generating gross proceeds of $460.0 million. No extension of SPAC term. Approximately 5.8% redemptions in connection with the business combination. TBHC trades on the Nasdaq Capital Market under the symbol “SKIN”, and the price of the common stock has ranged from $1.12 to $29.49 following consummation of the business combination, with a closing price of $1.77 on January 8, 2025. However, in recent years, a number of target businesses have underperformed financially post -businesscombination with a SPAC. As a result, we cannot assure you that we will properly ascertain or assess all of the significant risk factors associated with a target business or that the price of the shares of the combined entity post -businesscombination will increase. Business Strategy We believe that there are a range of target businesses that could benefit from our industry knowledge, relationships, capital and public vehicle. Legacy financial firms, including those which make up the largest ETF issuers in the world, have very small online followings. This makes it difficult for these firms to communicate directly to the wealthy self -directedinvestors they are now targeting. Our strategy is to capitalize on the significant experience, network and reach of Anthony Pompliano, our Chief Executive Officer, along with our directors and Special Advisor to identify and complete our initial business combination with a target business that we can introduce to a large and growing customer base and generative much more value in the future. Our focus will be on the financial services sector. While we intend to initially focus on potential opportunities in the United States, we may pursue opportunities internationally. Following the completion of this offering, our management team plans to identify and contact