Company: PCAP
Filing Date: 2025-07-03
Form Type: 10-Q
Source: 0001213900-25-061163
Chunk: 0

Company: ProCap Acquisition Corp
Filing Date: 2025-07-03
Form: 10-Q
Item: Part I, Item 1
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Item 1. Interim Financial Statements.

PROCAP ACQUISITION CORP

BALANCE SHEET

MARCH 31, 2025

(UNAUDITED)

    Assets 

    Current assets 

    Prepaid expenses 
    $25,000 
  
    Deferred offering costs 
     219,209 
  
    Total Current Assets 
    $244,209 

    Liabilities and Shareholder’s Deficit 

    Current Liabilities 

    Accrued offering costs 
    $179,209 
  
    Accrued expenses 
     9,124 
  
    Promissory note - related party 
     100,895 
  
    Total Current Liabilities 
     289,228 

    Commitments and Contingencies (Note 6) 

    Shareholder’s 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; none issued or outstanding 
     — 
  
    Class B ordinary shares, $0.0001 par value; 30,000,000 shares authorized; 6,325,000 shares issued and outstanding(1)(2) 
     633 
  
    Additional paid-in capital 
     24,367 
  
    Accumulated deficit 
     (70,019)
  
    Total Shareholder’s Deficit 
     (45,019)
  
    Total Liabilities and Shareholder’s Deficit 
    $244,209 

  (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) Includes 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.

1

PROCAP ACQUISITION CORP

STATEMENT OF OPERATIONS

FOR THE PERIOD FROM