Company: PCAP
Filing Date: 2025-05-13
Form Type: S-1/A
Source: 0001213900-25-042690
Chunk: 237

Company: ProCap Acquisition Corp
Filing Date: 2025-05-13
Form: S-1/A
Chunk 237
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 the following payments, all of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account: •Repayment of up to an aggregate of $300,000 in loans made to us by our sponsor to cover offering -relatedand organizational expenses; •Reimbursement for office space, utilities, management, operations, and secretarial and administrative support made available to us by an affiliate of our sponsor, in an amount equal to $10,000 per month; 151 •our independent directors and our Chief Financial Officer will each receive, for their services as a director, an indirect interest in 23,000, for the independent directors, and 46,000 for our Chief Financial Officer, founder shares through membership interests in our sponsor; 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 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; •Payment of consulting, success or finder fees to our independent directors, advisor, or their respective affiliates in connection with the consummation of our initial business combination; •We may engage our sponsor or an affiliate of our sponsor as an advisor or otherwise in connection with our initial business combination and certain other transactions and pay such person or entity a salary or fee in an amount that constitutes a market standard for comparable transactions; •Reimbursement for any out -of -pocketexpenses related to identifying, investigating, negotiating and completing an initial business combination; and •Repayment of loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance transaction costs in connection with an intended initial business combination. Up to $1,500,000 of such loans may be convertible into private placement -equivalentunits of the post -businesscombination entity at a price of $10.00 per unit at the option of the applicable lender. Such units would be identical to the private placement units. Except for the foregoing, the terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans. 152 DESCRIPTION OF SECURITIES We are a Cayman Islands exempted company and our affairs are governed by our amended and restated memorandum and articles of