Company: PCAP
Filing Date: 2025-05-27
Form Type: 8-K
Source: 0001213900-25-047495
Chunk: 1

Company: ProCap Acquisition Corp
Filing Date: 2025-05-27
Form: 8-K
Item: Item 3.02
Chunk 1
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Item 3.02. Unregistered Sales of Equity Securities.

Simultaneously with the closing
of the IPO, pursuant to the Private Placement Units Purchase Agreement, the Company completed the private sale of an aggregate of 430,000
units (the “ Private Placement Units”) to the Sponsor at a purchase price of $10.00 per Private Placement Unit, generating
gross proceeds to the Company of $4,300,000. The Private Placement Units (and underlying securities) are identical to the Units sold in
the IPO, except as otherwise disclosed in the Registration Statement. No underwriting discounts or commissions were paid with respect
to such sale. The issuance of the Private Placement Units was made pursuant to the exemption from registration contained in Section 4(a)(2)
of the Securities Act of 1933, as amended.

Item 5.02. Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 20, 2025, in connection
with the IPO, Lindsey Haswell, Michael Gonzalez, and Benjamin Buchanan (the “ New Directors”) were appointed to the
board of directors of the Company (the “ Board”). Effective May 20, 2025, each of Ms. Haswell, Mr. Buchanan, and Mr.
Gonzalez was appointed to the audit committee of the Board (the “ Audit Committee”) with Mr. Buchanan serving as chair
of the Audit Committee. Each of Ms. Haswell and Mr. Buchanan was appointed to the compensation committee of the Board (the “ Compensation
Committee”), with Mr. Buchanan serving as chair of the Compensation Committee.

On May 20, 2025, the Company
entered into indemnity agreements with each of the New Directors, Catalina Abbey, the Company’s Chief Financial Officer, and Anthony
J. Pompliano, the Company’s Chief Executive Officer, that require the Company to indemnify each of them to the fullest extent permitted
by applicable law and to advance expenses incurred as a result of any proceeding against them as to which they could be indemnified. The
foregoing summary of the indemnity agreements does not purport to be complete and is subject to, and qualified in its entirety by, the
full text of the form of indemnity agreement, which is filed as Exhibit 10.5 to this Current Report on Form 8-K and incorporated in this
Item 5.02 by reference.

Item 5