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ProCap Acquisition Corp Announces Closing of Upsized $250 Million Initial Public Offering

1. ProCap Acquisition Corp closed an initial public offering of 25 million units. 2. Each unit priced at $10, yielding $250 million in gross proceeds. 3. PCAPU units began trading on Nasdaq on May 21, 2025. 4. The company focuses on acquiring targets in the financial technology sector. 5. Management includes significant industry figures like Anthony Pompliano.

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FAQ

Why Bullish?

The successful IPO and substantial raised capital indicate investor confidence and solid foundational support. Historically, recent SPAC IPOs have yielded significant post-offering interest, boosting initial trading values.

How important is it?

The article is about a major event (IPO) that could spark immediate investor interest and trading activity. Its focus on industry veterans leading the company lends credibility and attracts more potential investors.

Why Short Term?

Initial trading excitement from the IPO usually peaks right after the offering. However, longer-term performance will heavily depend on the merger chosen and its market impact.

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PCAPPCAPW
, /PRNewswire/ -- ProCap Acquisition Corp (the "Company") announced today the closing of its upsized initial public offering of 25,000,000 units, which includes 3,000,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000. The Company's units began trading on May 21, 2025 on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "PCAPU." Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "PCAP" and "PCAPW," respectively. The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but is focused on completing a business combination with an attractive target businesses within the financial technology industry. The Company's management team is led by Anthony Pompliano, its Chief Executive Officer and a member of the Board of Directors of the Company (the "Board"), and Catalina Abbey, Chief Financial Officer. In addition, the Board includes Michael Gonzalez, Lindsey Haswell, and Ben Buchanan. Brent Saunders serves as an Advisor to the Company. BTIG, LLC acted as sole book-running manager for the offering. Reed Smith LLP served as legal counsel to the Company and Walkers (Cayman) LLP served as Cayman Islands counsel to the Company. Kirkland & Ellis LLP served as legal counsel to the underwriter. The offering was made only by means of a prospectus, copies of which may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, [email protected]. A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on May 20, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. FORWARD-LOOKING STATEMENTS This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds of the offering and the Company's search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. SOURCE ProCap Acquisition Corp WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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