Company: PCAP
Filing Date: 2025-05-22
Form Type: 424B4
Source: 0001213900-25-046580
Chunk: 231

Company: ProCap Acquisition Corp
Filing Date: 2025-05-22
Form: 424B4
Chunk 231
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 “piggy -back” registration rights with respect to registration statements filed subsequent to our completion of our initial business combination. We will bear the expenses incurred in connection with the filing of any such registration statements. 149 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS On January 9, 2025, our sponsor purchased, and the Company issued to the sponsor, 5,750,000 Class B ordinary shares for paid $25,000, or approximately $0.004 per share, to cover certain of our offering costs. On May20, 2025, the Company underwent a recapitalization in which the number of Class B ordinary shares increased to 6,325,000. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 25,300,000 units if the underwriters’ over -allotmentoption is exercised in full and excluding the Class A ordinary shares underlying the private placement units issued to the sponsor, and therefore that such founder shares would represent 20% of the outstanding shares after this offering. Up to 825,000 of the founder shares 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 and cancellation 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 independent directors have received, 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 has received an indirect interest in 46,000 founder shares through membership interests in our sponsor, and each of our independent directors have acquired additional interests in the sponsor, for a total indirect ownership in the Company of 253,000 founder shares for each independent director. 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. Additionally, 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