Company: PCAP
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108209
Chunk: 108

Company: ProCap Acquisition Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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 factors related to the potential status under the Investment Company Act), instruct the trustee
to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest-bearing
demand deposit account at a bank.

Transaction costs amounted to $14,026,609, consisting
of $2,200,000 of cash underwriting fee, $11,250,000 of deferred underwriting fee, and $576,609 of other offering costs.

The remaining proceeds from the Initial Public
Offering and the Private Placement are held outside the Trust Account. Such funds are being used primarily to enable us to identify a
target and to negotiate and consummate our initial Business Combination.

There has been no material change in the planned
use of the proceeds from our Initial Public Offering and the Private Placement as described in the IPO Registration Statement. The specific
investments in our Trust Account may change from time to time.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Trading Arrangements

During the quarterly period ended September 30,
2025, none of our directors or officers (as defined in Rule 16a-1(f) promulgated under the Exchange Act) adopted or terminated any “Rule
10b5-1 trading arrangement” or any “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of
Regulation S-K.

Additional Information

None.

22

Item 6. Exhibits

The following exhibits are filed as part of, or
incorporated by reference into, this Quarterly Report on Form 10-Q.

    No.
     
    Description of Exhibit
  
    3.1
     
    Amended and Restated Memorandum and Articles of Association, incorporated by reference to Exhibit 3.1 of the Company’s Form 8-K, as filed with the SEC on May 27, 2025.
  
    4.1
     
    Specimen Unit Certificate, incorporated by reference to Exhibit 4.1 of the Company’s Form S-1, as filed with the SEC on April 30, 2025.
  
    4.2
     
    Specimen Ordinary Share Certificate, incorporated by reference to Exhibit 4.2 the Company’s Form S-1, as filed with the SEC on April 30, 2025.