Company: PCAP
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001213900-25-108209
Chunk: 72

Company: ProCap Acquisition Corp
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 affirmative vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in person or, where
proxies are allowed, by proxy at the applicable general meeting of the Company is generally required to approve any matter voted on by
our shareholders. Approval of certain actions requires a special resolution under Cayman Islands law, which (except as specified below)
requires the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do so, vote in person
or, where proxies are allowed, by proxy at the applicable general meeting, and pursuant to the amended and restated memorandum and articles
of association, such actions include amending our amended and restated memorandum and articles of association and approving a statutory
merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following
our initial Business Combination, the holders of more than 50% of the ordinary shares voted for the appointment of directors can elect
all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B ordinary shares
will (i) have the right to vote on the appointment and removal of directors and (ii) be entitled to vote on continuing our company
in a jurisdiction outside the Cayman Islands (including any special resolution required to amend the constitutional documents or to adopt
new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the
Cayman Islands). Holders of the Class A ordinary shares will not be entitled to vote on these matters during such time. These provisions
of the amended and restated memorandum and articles of association may only be amended if approved by a special resolution passed by the
affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation of the initial Business Combination,
two-thirds) of the votes cast by such shareholders as, being entitled to do so, vote in person or, where proxies are allowed, by proxy
at the applicable general meeting of the Company.

Warrants — As of September
30, 2025, there were 8,476,666 Warrants outstanding, including 8,333,333 Public Warrants and 143,333 Private Placement Warrants. Each
whole Public Warrant entitles the holder to purchase one Class A ordinary share at a price of $11