Company: PCAP
Filing Date: 2025-05-13
Form Type: S-1/A
Source: 0001213900-25-042690
Chunk: 29

Company: ProCap Acquisition Corp
Filing Date: 2025-05-13
Form: S-1/A
Chunk 29
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 and our Chief Financial Officer will receive an indirect interest in 46,000 founder shares through membership interests in our sponsor, but none of such persons will have any right to control the sponsor or participate in any decision regarding the disposal of any security held by the sponsor, or otherwise. 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. (2)As of the date of this prospectus, no such arrangements are currently in place.

11 Because our sponsor acquired the founder shares at a nominal price ($0.004 per share), our public shareholders will incur immediate and substantial dilution upon the closing of this offering, assuming no value is ascribed to the warrants included in the units. Further, the Class A ordinary shares issuable in connection with the conversion of the founder shares may result in material dilution to our public shareholders due to the anti -dilutionrights of our founder shares that may result in an issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion. Additionally, our public shareholders may experience dilution from the 430,000 private placement units to be purchased by our sponsor simultaneously with the closing of this offering as well as conversion of any working capital loans into equity, if elected by the sponsor or by another person or entity who made such working capital loans. See the sections titled “ Risk Factors — Risks Relating to our Securities — The nominal purchase price paid by our sponsor for the founder shares may result in significant dilution to the implied value of your public shares upon the consummation of our initial business combination, and our sponsor is likely to make a substantial profit on its investment in us in the event we consummate an initial business combination, even if the business combination causes the trading price of our ordinary shares to materially decline”and “Dilution.” The founder shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of our initial business combination, or at any time prior thereto at the option of the holder thereof, on a one -for -onebasis, subject to adjustment as provided herein. In the case that additional Class A ordinary shares, or equity -linkedse