Company: PCAP
Filing Date: 2025-04-30
Form Type: S-1
Source: 0001213900-25-037771
Chunk: 160

Company: ProCap Acquisition Corp
Filing Date: 2025-04-30
Form: S-1
Chunk 160
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 founder shares at 20% of our issued and outstanding ordinary shares upon the consummation of this offering. Our sponsor, ProCap Acquisition Sponsor, LLC, has committed to purchase an aggregate of 430,000 private placement units (regardless of whether the over -allotmentoption is exercised in full), at a price of $10.00 per unit, for an aggregate purchase 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. 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 liquidation, we will cease paying these monthly fees. Prior to the closing of this offering, our sponsor may loan us funds in an aggregate amount of up to $300,000 to be used for a portion of the expenses of this offering. These loans would be non -interestbearing, unsecured and are due at the earlier of December 31, 2025 or the closing of this offering. As of January 10, 2025, we had borrowed $10,420 under the promissory note with our sponsor. In addition, in order to finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers and directors may, but are not obligated