Company: PCAP
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108209
Chunk: 9

Company: ProCap Acquisition Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 their redemption rights with respect to
their founder shares and public shares in connection with the completion of the initial Business Combination or an earlier redemption
in connection with the commencement of the procedures to consummate the initial Business Combination if the Company determines it is desirable
to facilitate the completion of the initial Business Combination; (ii) waive their redemption rights with respect to their founder
shares and public shares in connection with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum
and articles of association; (iii) waive their rights to liquidating distributions from the Trust Account with respect to their founder
shares if the Company fails to complete the initial Business Combination within the Completion Window, although they will be entitled
to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails to complete the initial
Business Combination within the Completion Window and to liquidating distributions from assets outside the Trust Account; and (iv) vote
any founder shares held by them and any public shares purchased during or after the Initial Public Offering (including in open market
and privately-negotiated transactions) in favor of the initial Business Combination.

The Sponsor has agreed that it will be liable
to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective
target business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business
Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share and (ii) the
actual amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per
share due to reductions in the value of the trust assets, less income taxes payable, provided that such liability will not apply to any
claims by a third party or prospective target business who executed a waiver of any and all rights to the monies held in the Trust Account
(whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s indemnity of the underwriters of
the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended
(the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification obligations, nor
has the Company independently verified whether the Sponsor has sufficient funds to satisfy