Company: PCAP
Filing Date: 2025-04-30
Form Type: S-1
Source: 0001213900-25-037771
Chunk: 92

Company: ProCap Acquisition Corp
Filing Date: 2025-04-30
Form: S-1
Chunk 92
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9, 2025, our sponsor purchased, and the Company issued to the sponsor, 5,750,000 Class B ordinary shares for $25,000, or approximately $0.004 per share, to cover certain of our offering costs. Prior to the initial investment in the company of $25,000 by the sponsor, the company had no assets, tangible or intangible. The purchase price of the founder shares was determined by dividing the amount of cash contributed to the company by the number of founder shares issued. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 23,000,000 units if the underwriters’ over -allotmentoption is exercised in full (and excluding the Class A ordinary shares underlying the private placement units issued to the sponsor), and therefore that such founder shares would represent 20% of the outstanding shares after this offering. Our public shareholders may incur material dilution due to such anti -dilutionadjustments that result in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion. Up to 750,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised. The founder shares will be worthless if we do not complete an initial business combination, except to the extent they receive liquidating distributions from assets outside of the trust account. In addition, our sponsor has committed to purchase an aggregate of 430,000 private placement units (regardless of whether the underwriters’ over -allotmentoption is exercised in full) for an aggregate purchase price of $4,300,000, or $10.00 per private placement unit. Each private placement unit will be identical to the units sold in this offering, except as described in this prospectus. The private placement units will be sold in a private placement that will close simultaneously with the closing of this offering, including the over -allotmentoption, as applicable. Except in certain limited circumstances, no member of the sponsor may transfer all or any portion of its membership units in the sponsor. The private placement units will be worthless if we do not complete our initial business combination. The personal and financial interests of our officers and directors may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination. This risk may become more acute as the end of the completion window