Company: PCAP
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108209
Chunk: 0

Company: ProCap Acquisition Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
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Item 1. Interim Financial Statements.

PROCAP ACQUISITION CORP

BALANCE SHEET

SEPTEMBER 30, 2025

(UNAUDITED)

    Assets: 

    Current assets 

    Cash 
    $1,208,574 
  
    Prepaid expenses 
     122,991 
  
    Total current assets 
     1,331,565 
  
    Cash held in Trust Account 
     253,707,094 
  
    Total Assets 
    $255,038,659 

    Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit 

    Current liabilities 

    Accrued offering costs 
    $75,000 
  
    Accrued expenses 
     22,779 
  
    Promissory note – related party 
     23,345 
  
    Total current liabilities 
     121,124 
  
    Deferred underwriting fee 
     11,250,000 
  
    Total Liabilities 
     11,371,124 

    Commitments and Contingencies (Note 6) 

    Class A ordinary shares subject to possible redemption, $0.0001 par value; 25,000,000 shares at redemption value of $10.15 per share 
     253,707,094 

    Shareholders’ Deficit 

    Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding 
     — 
  
    Class A ordinary shares, $0.0001 par value; 300,000,000 shares authorized; 430,000 shares issued and outstanding (excluding 25,000,000 shares subject to possible redemption) 
     43 
  
    Class B ordinary shares, $0.0001 par value; 30,000,000 shares authorized; 6,250,000 shares issued and outstanding (1) 
     625 
  
    Additional paid-in capital 
     — 
  
    Accumulated deficit 
     (10,040,227)
  
    Total Shareholders’ Deficit 
     (10,039,559)
  
    Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit 
    $255,038,659 

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

1

PROCAP ACQU