Company: PCAP
Filing Date: 2025-05-27
Form Type: 8-K
Source: 0001213900-25-047495
Chunk: 3

Company: ProCap Acquisition Corp
Filing Date: 2025-05-27
Form: 8-K
Item: Item 8.01
Chunk 3
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Item 8.01. Other Events.

The information included
in Item 1.01 and Item 3.02 of this Current Report on Form 8-K is incorporated herein by reference.

A total of $247,725,000,
comprised of the proceeds from the IPO and the sale of the Private Placement Units (which amount includes $2,200,000 of the Underwriter’s
deferred discount), was placed in a U. S.-based trust account maintained by Odyssey Transfer and Trust Company, acting as trustee. Except
with respect to interest earned on the funds in the trust account that may be released to the Company to pay its income taxes and for
winding up and dissolution expenses, the funds held in the trust account will not be released from the trust account until the earliest
of (i) the completion of the Company’s initial business combination, (ii) the redemption of the Company’s public shares if
it is unable to complete its initial business combination within 24 months from the closing of the IPO (as such date may be extended by
shareholder approval to amend the Amended and Restated Memorandum and Articles of Association to extend the date by which we must consummate
our initial business combination, or by such earlier liquidation date as the Company’s board of directors may approve), subject
to applicable law, and (iii) the redemption of the Company’s public shares properly submitted in connection with a shareholder vote
to amend the Company’s Amended and Restated Memorandum and Articles of Association to modify the substance or timing of its obligation
to redeem 100% of the Company’s public shares if it has not consummated an initial business combination within 24 months from the
closing of the IPO or with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination
activity.

On May 20, 2025, the Company
issued a press release announcing the pricing of the IPO, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.

On May 22, 2025, the Company
issued a press release announcing the closing of the IPO, a copy of which is attached as Exhibit 99.2 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.