Company: PCAP
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108209
Chunk: 78

Company: ProCap Acquisition Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 78
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 adjustment.
The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants:

    May 22, 2025 
  
    Underlying stock price 
    $10.72 
  
    Exercise price 
    $11.50 
  
    Volatility 
     5.3%
  
    Remaining term (years) 
     7.01 
  
    Risk-free rate 
     4.23%
  
    Pre-adjusted value per share 
    $2.18 
  
    Implied market adjustment 
     10.0%

16

PROCAP ACQUISITION CORP
NOTES TO FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited)

NOTE 8. SEGMENT INFORMATION

ASC Topic 280, “Segment Reporting,”
establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic
areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is
available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources
and assess performance.

The Company’s chief operating decision maker
has been identified as the Chief Executive Officer (“CODM”), who reviews the operating results for the Company as a whole
to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company
only has one operating segment.

The key measures of segment profit or loss reviewed
by the CODM are interest on the Trust Account and general and administrative expenses. The CODM reviews interest earned on the Trust Account
to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining
compliance with the trust agreement. General and administrative expenses are reviewed and monitored by the CODM to manage and forecast
cash to ensure enough capital is available to complete a business combination within the Business Combination period. The CODM also reviews
general and administrative costs to manage, maintain and enforce all contractual agreements to ensure costs are aligned with all agreements
and budget.

The segment measures of profitability are shown
in the statements of operations. The measure of segment assets is reported on the balance sheet as total assets.

NOTE 9. SUBSEQUENT EVENTS 

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the unaudited financial statements were issued. Based upon this review,
the Company did not identify