Company: PCAP
Filing Date: 2025-04-11
Form Type: DRS/A
Source: 0001213900-25-030769
Chunk: 276

Company: ProCap Acquisition Corp
Filing Date: 2025-04-11
Form: DRS/A
Chunk 276
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 sale, hedge, wash sale, conversion or other integrated or similar transaction; •U.S. Holders whose functional currency is not the U.S. dollar; •controlled foreign corporations; •passive foreign investment companies; and •partnerships (or entities or arrangements treated as partnerships for U.S. federal income tax purposes), S corporations, or other pass -throughentities for U.S. federal income tax purposes and any owners of such partnerships, S corporations, or other pass -throughentities. 175 Moreover, the discussion below is based upon the provisions of the Code, the Treasury regulations promulgated thereunder and administrative and judicial interpretations thereof, all as of the date hereof, and such provisions may be repealed, revoked, modified or subject to differing interpretations, possibly on a retroactive basis, which may result in U.S. federal income tax consequences different from those discussed below. Furthermore, this discussion does not address any aspect of U.S. federal non -incometax laws, such as gift or estate tax laws, or state, local or non -UnitedStates tax laws. We have not sought, and do not expect to seek, a ruling from the U.S. Internal Revenue Service (“IRS”) as to any U.S. federal income tax consequence described herein. The IRS may disagree with the discussion herein, and its determination may be upheld by a court. Moreover, there can be no assurance that future legislation, regulations, administrative rulings or court decisions will not adversely affect the accuracy of the statements in this discussion. If a partnership (or other entity or arrangement treated as a partnership for U.S. federal income tax purposes) is the beneficial owner of our securities, the U.S. federal income tax treatment of a partner in such partnership will depend on the status of the partner and the activities of the partnership. Partnerships holding our securities and the partners of such partnerships are urged to consult their own tax advisors regarding the tax consequences of the acquisition, ownership and disposition of our securities. THIS DISCUSSION IS ONLY A SUMMARY OF CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS ASSOCIATED WITH THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES. EACH PROSPECTIVE INVESTOR IN OUR SECURITIES IS URGED TO CONSULT ITS OWN TAX ADVISOR WITH RESPECT TO THE PARTICULAR TAX CONSEQUENCES TO SUCH INVESTOR OF THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES, INCLUDING THE APPLICABILITY