Company: PCAP
Filing Date: 2025-04-30
Form Type: S-1
Source: 0001213900-25-037771
Chunk: 332

Company: ProCap Acquisition Corp
Filing Date: 2025-04-30
Form: S-1
Chunk 332
---
 such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. Item 15. Recent Sales of Unregistered Securities. On January 9, 2025, ProCap Acquisition Sponsor, LLC, our sponsor, purchased, and the Company issued to the sponsor, 5,750,000 Class B ordinary shares for an aggregate issue price of $25,000, or approximately $0.004 per share, to cover certain of our offering costs. Such securities were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. 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 therefore that such founder shares would represent 20% of the outstanding shares after this offering (excluding the Class A ordinary shares underlying the private placement units issued to the sponsor). Up to 750,000 of these shares will be surrendered for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised.

II-1

Our sponsor is an accredited investor for purposes of Rule 501 of Regulation D. Each of the equity holders in our sponsor is an accredited investor under Rule 501 of Regulation D. The sole business of our sponsor is to act as the company’s sponsor in connection with this offering. The limited liability company agreement of our sponsor provides that its membership interests may only be transferred to our officers or directors or other persons affiliated with our sponsor, or in connection with estate planning transfers. Our sponsor has committed, pursuant to written agreements, to purchase from us an aggregate of 430,000 private placement units (regardless of whether the underwriters’ over -allotmentoption is exercised in full) at $10.00 per unit (for an aggregate purchase price of $4,300,000). The private placement units will also be worthless if we do not complete our initial business combination. This purchase will take place on a private placement basis simultaneously with the completion of our initial public offering. This issuance will be made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. No underwriting discounts or commissions were paid with respect to such sales. Item 16. Exhibits and Financial Statement Schedules. Exhibit Index

| Exhibit No. |     | Description                                                                                                                              |
| 1.