Company: PCAP
Filing Date: 2025-02-20
Form Type: DRS
Source: 0001213900-25-015424
Chunk: 267

Company: ProCap Acquisition Corp
Filing Date: 2025-02-20
Form: DRS
Chunk 267
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 be signed prior to or on the effective date of this offering. 169 Pursuant to the registration rights agreement and assuming the underwriters exercise their over -allotmentoption in full and $1,500,000 of working capital loans are converted into private placement -equivalentunits, we will be obligated to register up to 6,330,000 Class A ordinary shares and 193,333 Class A ordinary shares that may be issued upon exercise of the warrants underlying the private placement units. The number of Class A ordinary shares includes (i) 5,750,000 Class A ordinary shares to be issued upon conversion of the founder shares and (ii) 580,000 Class A ordinary shares underlying the private placement units, and (iii) 193,333 Class A ordinary shares that may be issued upon exercise of the warrants underlying the private placement units. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities. In addition, the holders have certain “piggy -back” registration rights with respect to registration statements filed subsequent to our completion of our initial business combination. We will bear the expenses incurred in connection with the filing of any such registration statements. Listing of Securities We intend to apply to have our units listed on Nasdaq under the symbol “PCAPU” commencing on or promptly after the date of this prospectus. We cannot guarantee that our securities will be approved for listing on Nasdaq. Once the securities comprising the units begin separate trading, we expect that the Class A ordinary shares and warrants will be listed on Nasdaq under the symbols “PCAP” and “PCAPW”, respectively. 170 TAXATION The following summary of certain Cayman Islands and U.S. federal income tax consequences of an investment in our units, each consisting of one Class A ordinary share and one -thirdof one redeemable warrant, which we refer to collectively as our securities, is based upon laws and relevant interpretations thereof in effect as of the date of this prospectus, all of which are subject to change. This summary does not deal with all possible tax consequences relating to an investment in our Class A ordinary shares and warrants, such as the tax consequences under state, local and other tax laws. Prospective investors should consult their advisors on the possible tax consequences of investing in our securities under the laws of their country of citizenship, residence or domicile. Cayman Islands Taxation The following is a discussion on certain Cayman Islands income tax consequences of an investment in our securities