Company: PCAP
Filing Date: 2025-05-22
Form Type: 424B4
Source: 0001213900-25-046578
Chunk: 30

Company: ProCap Acquisition Corp
Filing Date: 2025-05-22
Form: 424B4
Chunk 30
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 to any seller in the initial business combination and any private placement -equivalentwarrants issued to our sponsor or any of its affiliates or to our officers or directors upon conversion of working capital loans) minus (iii) any redemptions of Class A ordinary shares by public shareholders in connection with an initial business combination; provided that such conversion of founder shares will never occur on a less than one -for -onebasis. Our public shareholders may incur material dilution due to such anti -dilutionadjustments that result in the issuance of Class A ordinary shares on a greater than one -to -onebasis upon conversion. Additionally, 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. If we raise additional funds through equity or convertible debt issuances, our public shareholders may suffer significant dilution. This dilution would increase to the extent that the anti -dilutionprovision of the founder shares result in the issuance of Class A shares on a greater than one -to -onebasis upon conversion of the founder shares at the time of our initial business combination. In addition, the issuance of the private placement units would further increase the dilution to our public shareholders. 12

Pursuant to a letter agreement entered into with us, each of our sponsor, directors and officers has agreed to restrictions on its ability to transfer, assign, or sell the founder shares and private placement units, as summarized in the table below.

| Subject Securities |     | Expiration Date                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |     | Natural Persons and             
 Entities Subject to             
 Restrictions                    |     | Exceptions to Transfer Restrictions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Founder Shares     |     | The earlier of (A) six months after the completion of our initial business combination or earlier if, subsequent to our initial business combination, the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period after our initial business combination and (B) the