Company: PCAP
Filing Date: 2025-05-22
Form Type: 424B4
Source: 0001213900-25-046580
Chunk: 2

Company: ProCap Acquisition Corp
Filing Date: 2025-05-22
Form: 424B4
Chunk 2
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 thereof depending on the extent to which the underwriter’s over -allotmentoption is exercised) for an aggregate purchase price of $25,000, or approximately $0.004 per share. On May20, 2025, the Company underwent a recapitalization in which the number of Class B ordinary shares increased to 6,325,000 (up to 825,000 of which are subject to forfeiture by the holders thereof depending on the extent to which the underwriter’s over -allotmentoption is exercised). The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination, or at any time prior thereto at the option of the holder thereof, on a one -for -onebasis, subject to adjustment as provided herein. If we increase or decrease the size of the offering, we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares at 20% of our issued and outstanding ordinary shares upon the consummation of this offering. 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. Additionally, 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. Because our sponsor acquired the Class B ordinary shares at a nominal price, our public shareholders will incur an immediate and substantial dilution upon the closing of this offering, assuming no value is as