Company: PCAP
Filing Date: 2025-05-22
Form Type: 424B4
Source: 0001213900-25-046578
Chunk: 160

Company: ProCap Acquisition Corp
Filing Date: 2025-05-22
Form: 424B4
Chunk 160
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 which invest only in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended business combination. To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, which risk increases the longer that we hold investments in the trust account, we may, at any time (based on our management team’s ongoing assessment 103 of all factors related to our potential status under the Investment Company Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account in cash or in an interest bearing demand deposit account at a bank. Due to the short -termnature of these investments, we believe there will be no associated material exposure to interest rate risk. Related Party Transactions On January 9, 2025, our sponsor purchased, and the Company issued to the sponsor, 5,750,000 Class B ordinary shares for $25,000, or approximately $0.004 per share, to cover certain of our offering costs. On May20, 2025, the Company underwent a recapitalization in which the number of Class B ordinary shares increased to 6,325,000. The number of founder shares issued was determined based on the expectation that the total size of this offering would be a maximum of 25,300,000 units if the underwriters’ over -allotmentoption is exercised in full and excluding the Class A ordinary shares underlying the private placement units issued to the sponsor, and therefore that such founder shares would represent 20% of the issued and outstanding shares after this offering. Up to 825,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised. 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 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