Company: PCAP
Filing Date: 2025-02-20
Form Type: DRS
Source: 0001213900-25-015424
Chunk: 222

Company: ProCap Acquisition Corp
Filing Date: 2025-02-20
Form: DRS
Chunk 222
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 this offering. The private placement units will be identical to the units sold in this offering except that, so long as they are held by our sponsor or its permitted transferees, the private placement units (i) may not (including the Class A ordinary shares underlying these private placement units), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial business combination, and (ii) will be entitled to registration rights. A portion of the purchase price of the private placement units will be added to the proceeds from this offering to be held in the trust account such that at the time of closing of this offering $200,000,000 (or $230,000,000 if the underwriters exercise their over -allotmentoption in full) will be held in the trust account. If we do not complete our initial business combination within the completion window, the private placement units will expire worthless. The private placement units are subject to the transfer restrictions described below. ProCap Acquisition Sponsor, LLC, our sponsor, and our officers and directors are deemed to be our “promoters” as such term is defined under the federal securities laws. Restrictions on Transfers of Founder Shares and Private Placement Units The founder shares and private placement units and any Class A ordinary shares issued upon conversion thereof are each subject to transfer restrictions pursuant to lock -upprovisions in the agreements to be entered into by our sponsor and management team. Those lock -upprovisions provide that such securities are not transferable or saleable (i) in the case of the founder shares, until the earlier of (A) six months after the completion of our initial business combination or earlier if, subsequent to our initial business combination, the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub -divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -tradingday period commencing after our initial business combination and (B) the date following the completion of our initial business combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property and (ii) in the case of the private placement units and any underlying Class A ordinary shares, until 30 days after the completion of our initial business combination except in each case (a) to our or