Company: PCAP
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001213900-25-074297
Chunk: 0

Company: ProCap Acquisition Corp
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
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Item 1. Interim Financial Statements.

PROCAP ACQUISITION CORP

BALANCE SHEET

JUNE 30, 2025

(UNAUDITED)

    Assets: 

    Current assets 

    Cash 
    $1,367,369 
  
    Prepaid expenses 
     124,995 
  
    Total current assets 
     1,492,364 
  
    Cash held in Trust Account 
     251,114,608 
  
    Total Assets 
    $252,606,972 

    Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit 

    Current liabilities 

    Accrued offering costs 
    $75,000 
  
    Accrued expenses 
     49,178 
  
    Over-allotment option liability 
     7,023 
  
    Promissory note – related party 
     23,345 
  
    Total current liabilities 
     154,546 
  
    Deferred underwriting fee 
     11,250,000 
  
    Total Liabilities 
     11,404,546 

    Commitments and Contingencies (Note 6) 

    Class A ordinary shares subject to possible redemption, $0.0001 par value; 25,000,000 shares at redemption value of $10.04 per share 
     251,114,608 

    Shareholders’ Deficit 

    Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding 
     — 
  
    Class A ordinary shares, $0.0001 par value; 300,000,000 shares authorized; 430,000 shares issued and outstanding (excluding 25,000,000 shares subject to possible redemption) 
     43 
  
    Class B ordinary shares, $0.0001 par value; 30,000,000 shares authorized; 6,325,000 shares issued and outstanding (1) 
     633 
  
    Additional paid-in capital 
     — 
  
    Accumulated deficit 
     (9,912,858)
  
    Total Shareholders’ Deficit 
     (9,912,182)
  
    Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit 
    $252,606,972 

  (1) Includes up to