Company: PCAP
Filing Date: 2025-05-22
Form Type: 424B4
Source: 0001213900-25-046578
Chunk: 161

Company: ProCap Acquisition Corp
Filing Date: 2025-05-22
Form: 424B4
Chunk 161
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 price of $4,300,000. The private placement units will also be worthless if we do not complete our initial business combination. 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 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. Our independent directors have received, for their services as a director, an indirect interest in 23,000 founder shares through membership interests in our sponsor, and our Chief Financial Officer has received an indirect interest in 46,000 founder shares through membership interests in our sponsor, and each of our independent directors have acquired additional interests in the sponsor, for a total indirect ownership in the Company of 253,000 founder shares for each independent director. None of such persons will have any right to control the sponsor or participate in any decision regarding the disposal of any security held by the sponsor, or otherwise. Our Chief Executive Officer, through his ownership in the sponsor, has an indirect interest in 3,063,600 founder shares, and our Advisor, through his ownership in the sponsor, has an indirect interest in 947,600 founder shares. Our Chief Executive Officer, as the controlling member of Inflection Points, Inc. d/b/a Professional Capital Management, which is the sole managing member of our sponsor, has the right to control the sponsor and participate in the decision regarding the disposal of any security held by the sponsor. Prior to or in connection with the completion of our initial business combination, there may be payment by the company to our sponsor, officers or directors, advisor, or our or their affiliates, of a finder’s fee, advisory fee, consulting fee or success fee for any services they render in order to effectuate the completion of our initial business, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their affiliates. We will reimburse an affiliate of our sponsor in an amount equal to $10,000 per month for office space, utilities, management, operations, and secretarial and administrative support made available to us. Upon completion of our initial business combination or our liquid