Company: PCAP
Filing Date: 2025-07-03
Form Type: 10-Q
Source: 0001213900-25-061163
Chunk: 1

Company: ProCap Acquisition Corp
Filing Date: 2025-07-03
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 JANUARY 2, 2025 (INCEPTION)
THROUGH MARCH 31, 2025

(UNAUDITED)

    General and administrative costs 
    $70,019 
  
    Loss from operations 
     (70,019)

    Net loss 
    $(70,019)

    Basic and diluted weighted average Class B ordinary shares outstanding (1)(2) 
     5,500,000 

    Basic and diluted net loss per Class B ordinary share 
    $(0.01)

  (1) On May 20, 2025, the Company effected a share recapitalization pursuant to which the Company issued an additional 575,000 founder shares to the Sponsor for no additional consideration, resulting in the Sponsor holding an aggregate 6,325,000 founder shares issued and outstanding. All share and per share data has been retroactively presented (see Note 5 and Note 9).  (2) Excludes up to 825,000 Class B ordinary shares that were subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (see Note 5). 

The accompanying notes are an integral part of
the unaudited financial statements.

2

PROCAP ACQUISITION CORP

STATEMENT OF CHANGES IN SHAREHOLDER’S
DEFICIT

FOR THE PERIOD FROM JANUARY 2, 2025 (INCEPTION)
THROUGH MARCH 31, 2025

(UNAUDITED)

    Class A Ordinary Shares  
    Class B Ordinary Shares  
    Additional Paid-in  
    Accumulated  
    Total Shareholder’s 

    Shares  
    Amount  
    Shares  
    Amount  
    Capital  
    Deficit  
    Deficit 
  
    Balance — January 2, 2025 (inception) 
     —  
    $—  
     —  
    $—  
    $—  
    $—  
    $— 

    Class B ordinary shares issued to
 Sponsor (1)(2) 
     —  
     —  
     6,325,000  
     633  
     24,367  
     —  
     25,000 

    Net loss 
     —  
     —  
     —  
     —  
     —