Company: PCAP
Filing Date: 2025-05-13
Form Type: S-1/A
Source: 0001213900-25-042690
Chunk: 162

Company: ProCap Acquisition Corp
Filing Date: 2025-05-13
Form: S-1/A
Chunk 162
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 will be surrendered for no consideration depending on the extent to which the underwriters’ over -allotmentis exercised. If we increase or decrease the size of the offering, we will effect a share capitalization or a share repurchase or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares at 20% of our issued and outstanding ordinary shares upon the consummation of this offering. Our sponsor, ProCap Acquisition Sponsor, LLC, has committed to purchase an aggregate of 430,000 private placement units (regardless of whether the over -allotmentoption 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 business combination. The private placement units will be identical to the units sold in this offering except that, so long as they are held by our sponsor or its permitted transferees, the private placement units (i) may not (including the Class A ordinary shares underlying these units), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial business combination and (ii) will be entitled to registration rights. Our independent directors will each receive, for their services as a director, an indirect interest in 23,000 founder shares through membership interests in our sponsor, 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. Prior to or in connection with the completion of our initial business combination, there may be payment by the company to our sponsor, officers or directors, advisor, or our or their affiliates, of a finder’s fee, advisory fee, consulting fee or success fee for any services they render in order to