Company: PCAP
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074297
Chunk: 73

Company: ProCap Acquisition Corp
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 any
Class A ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless
a registration statement under the Securities Act with respect to the Class A ordinary shares underlying the warrants is then effective
and a prospectus relating thereto is current. No warrant will be exercisable and the Company will not be obligated to issue a Class A
ordinary share upon exercise of a warrant unless the Class A ordinary share issuable upon such warrant exercise has been registered,
qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the
event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant
will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will the Company be
required to net cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser
of a unit containing such warrant will have paid the full purchase price for the unit solely for the Class A ordinary share underlying
such unit.

Under the terms of the warrant agreement, the
Company has agreed that, as soon as practicable, but in no event later than 20 business days, after the closing of its Business Combination,
it will use its commercially reasonable efforts to file with the SEC a post-effective amendment to the registration statement for the
Initial Public Offering or a new registration statement covering the registration under the Securities Act of the Class A
ordinary shares issuable upon exercise of the warrants and thereafter will use its commercially reasonable efforts to cause the same to
become effective within 60 business days following the Company’s initial Business Combination and to maintain a current prospectus
relating to the Class A ordinary shares issuable upon exercise of the warrants until the expiration of the warrants in accordance
with the provisions of the warrant agreement. If a registration statement covering the Class A ordinary shares issuable upon exercise
of the warrants is not effective by the sixtieth (60th) business day after the closing of the initial Business Combination,
warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have
failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of
the Securities Act or another exemption. Notwithstanding the above