Company: PCAP
Filing Date: 2025-05-22
Form Type: 424B4
Source: 0001213900-25-046580
Chunk: 229

Company: ProCap Acquisition Corp
Filing Date: 2025-05-22
Form: 424B4
Chunk 229
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 to such person’s immediate family or to a trust, the beneficiary of which is a member of such person’s immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such person; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement, in connection with an extension of the completion window or in connection with the consummation of a business combination at prices no greater than the price at which the shares or warrants were originally purchased; (f) pro rata distributions from our sponsor or the underwriters to its respective members, partners or shareholders pursuant to our sponsor’s or the underwriter’s limited liability company agreement or other charter documents; (g) by virtue of the laws of the Cayman Islands or our sponsor’s limited liability company agreement upon dissolution of our sponsor or upon dissolution of the underwriters; (h) in the event of our liquidation prior to our consummation of our initial business combination; (i) in the event that, subsequent 148 to our consummation of an initial business combination, we complete a liquidation, merger, share exchange or other similar transaction which results in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property or (j) to a nominee or custodian of a person or entity to whom a transfer would be permissible under clauses (a) through (g); provided, however, that in the case of clauses (a) through (g) and clause (j) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and the other restrictions contained in the letter agreements. Pursuant to the letter agreement entered into with us, each of our sponsor, directors and officers have agreed to lock -uprestrictions on their ability to transfer, assign, or sell the founder shares and private placement units and Class A ordinary shares underlying the private placement units. Further, the sponsor membership interests (including the interests held by the non -managingmembers) are locked up and not transferable because the letter agreement prohibits indirect transfers. While non -managingmembers will not be a direct party to the letter agreement discussed above, to the extent they own any membership interests in the sponsor, they will be bound by the restrictions set forth above with respect to their allocated founder shares