Company: PCAP
Filing Date: 2025-05-13
Form Type: S-1/A
Source: 0001213900-25-042690
Chunk: 295

Company: ProCap Acquisition Corp
Filing Date: 2025-05-13
Form: S-1/A
Chunk 295
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 U.S. Holders who are individuals and certain entities will be required to report information with respect to such U.S. Holder’s investment in “specified foreign financial assets” on IRS Form 8938 (Statement of Specified Foreign Financial Assets), subject to certain exceptions. Specified foreign financial assets generally include any financial account maintained with a non -U.S. financial institution and should also include our units, Class A ordinary shares and warrants if they are not held in an account maintained with a U.S. financial institution. Persons who are required to report specified foreign financial assets and fail to do so may be subject to substantial penalties, and the period of limitations on assessment and collection of U.S. federal income taxes may be extended in the event of a failure to comply. Potential investors are urged to consult their tax advisors regarding the specified foreign financial asset and other reporting obligations and their application to an investment in our units, Class A ordinary shares and warrants. Non-U .S. Holders This section applies to you if you are a “Non -U.S. Holder.” As used herein, the term “Non -U.S. Holder” means a beneficial owner of our units, Class A ordinary shares or warrants that is neither a U.S. Holder nor a partnership for U.S. federal income tax purposes. A “None -U.S. Holder” generally does not include an individual who is present in the United States for 183 days or more in the taxable year of the disposition of our units, Class A ordinary shares or warrants. If you are such an individual, you should consult your tax advisor regarding the U.S. federal income tax consequences of the acquisition, ownership and disposition of our securities. The characterization for U.S. federal income tax purposes of distributions of cash or other property on a Non -U.S. Holder’s Class A ordinary shares generally will correspond to the U.S. federal income tax characterization of such distributions of a U.S. Holder’s Class A ordinary shares, as described under “ — U.S. Holders — Taxation of Distributions” above. Dividends (including, as described under “ — U.S. Holders — Possible Constructive Distributions” above, constructive distributions treated as dividends) paid or deemed paid to a Non -U.S. Holder in respect of our Class A ordinary shares or warrants generally will not be subject to U.S. federal income tax, unless the dividends are effectively connected with the Non -U.S. Holder’s conduct of a trade or business within the United States (and, if