Company: PCAP
Filing Date: 2025-02-20
Form Type: DRS
Source: 0001213900-25-015424
Chunk: 265

Company: ProCap Acquisition Corp
Filing Date: 2025-02-20
Form: DRS
Chunk 265
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 the consummation of an initial business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment and removal of directors. Our board of directors may, by a vote of a majority of our directors then in office, appoint any person to be a director, either to fill a vacancy or as an additional director. Securities Eligible for Future Sale Immediately after this offering we will have 25,430,000 (or 29,180,000 if the underwriters’ over -allotmentoption is exercised in full) ordinary shares outstanding. Of these shares, the Class A ordinary shares sold in this offering (20,000,000 Class A ordinary shares if the underwriters’ over -allotmentoption is not exercised and 23,000,000shares if the underwriters’ over -allotmentoption is exercised in full) will be freely tradable without restriction or further registration under the Securities Act, except for any Class A ordinary shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All of the outstanding founder shares (5,000,000 founder shares if the underwriters’ over -allotmentoption is not exercised and 5,750,000 founder shares if the underwriters’ over -allotmentoption is exercised in full) and all of the outstanding 430,000 private placement units (regardless of whether the underwriters’ over -allotmentoption is exercised in full) will be restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering. 168 Rule 144 Pursuant to Rule 144, a person who has beneficially owned restricted shares or warrants for at least six months would be entitled to sell their securities provided that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the three months preceding, a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale and have filed all required reports under Section 13 or 15(d) of the Exchange Act during the 12 months (or such shorter period as we were required to file reports) preceding the sale. Persons who have beneficially owned restricted shares or warrants for at least six months but who are our affiliates at the time of, or at any time during the three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell