Company: PCAP
Filing Date: 2025-04-11
Form Type: DRS/A
Source: 0001213900-25-030769
Chunk: 38

Company: ProCap Acquisition Corp
Filing Date: 2025-04-11
Form: DRS/A
Chunk 38
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 are allowed, by proxy at the applicable general meeting of the company. A quorum for such meeting will be present if the holders of at least one third of issued and outstanding shares entitled to vote at the meeting are represented in person or by proxy. Our initial shareholders will count toward this quorum and, pursuant to the letter agreement, our sponsor, officers and directors have agreed to vote their founder shares and any public shares purchased during or after this offering (including in open market and privately-negotiated transactions, aside from shares they may purchase in compliance with the requirements of Rule 14e-5 under the Exchange Act, which would not be voted in favor of approving the business combination transaction) in favor of our initial business combination. As a result, if all issued and outstanding shares are voted on a resolution to approve our initial business combination, in addition to our initial shareholders’ founder shares and shares underlying the private placement units, if we would require an ordinary resolution, we would need 7,285,001 public shares, or 36.43% of the 20,000,000 public shares sold in this offering, and if we would require a special resolution of two-thirds of our ordinary shares voted at the meeting, we would need 11,523,334 public shares, or 57.62% of the 20,000,000 public shares sold in this offering, to be voted in favor of an initial business combination in order to have our initial business combination approved, assuming in each case that the over-allotment option is not exercised and that the parties to the letter agreement do not acquire any public shares. Assuming that only the holders of one-third of our issued and outstanding ordinary shares, representing a quorum under our amended and restated memorandum and articles of association, vote their shares, regardless of whether such vote pertains to an ordinary resolution or a special resolution of two-thirds of our ordinary shares voted at the meeting, we would not need any public shares in addition to our founder shares to be voted in favor of an initial business combination in order to approve an initial business combination. |
| Private placement units: |     | Our sponsor, ProCap Acquisition Sponsor, LLC, has committed to purchase an aggregate of 430,000 private placement units (regardless of whether the over-allotment option 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