ProCap Acquisition Corp Announces Closing of $250 Million Offering
Funding | May 23, 2025 | EIN
ProCap Acquisition Corp, a blank check company, has successfully closed its upsized initial public offering at $250 million, following the trading debut of its units on Nasdaq under the ticker symbol 'PCAPU.' The offering involved 25 million units priced at $10 each, with each unit consisting of one Class A ordinary share and one-third of a warrant, allowing a purchase of an additional share at $11.50. ProCap is led by CEO Anthony Pompliano and intends to focus its acquisition strategy on the financial technology sector. BTIG, LLC served as the sole book-running manager with Reed Smith LLP and Kirkland & Ellis LLP providing legal counsel. The offering was made with full regulatory compliance overseen by the SEC, with forward-looking statements reflecting potential strategic goals related to acquisition targets.
Sectors
- Financial Technology
- Investment Banking
- Law Services
Geography
- United States – ProCap is based in the United States, with its units trading on the US-based Nasdaq market, following a regulatory clearance from the US SEC.
- Cayman Islands – Walkers (Cayman) LLP acted as Cayman Islands counsel to ProCap, indicating some structural or legal incorporation in that jurisdiction.
Industry
- Financial Technology – ProCap intends to focus its business combination efforts on attractive companies within the financial technology sector.
- Investment Banking – BTIG, LLC served as the book-running manager for ProCap's IPO, a role typically executed by investment banking firms.
- Law Services – Legal firms such as Reed Smith LLP and Kirkland & Ellis LLP played key advisory roles in the structuring and regulation compliance for ProCap's IPO.
Financials
- 250,000,000 – Gross proceeds from ProCap's upsized initial public offering.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ProCap Acquisition Corp | Target Company | Company | A blank check company seeking business combinations in the financial technology sector. |
| BTIG, LLC | Corporate Finance | Company | Served as the sole book-running manager for ProCap's IPO. |
| Reed Smith LLP | Legal Advisor | Company | Provided legal counsel to ProCap during its IPO. |
| Kirkland & Ellis LLP | Legal Advisor | Company | Acted as legal counsel to the underwriter. |
| Walkers (Cayman) LLP | Legal Advisor | Company | Provided legal counsel related to Cayman Islands law. |
| Anthony Pompliano | Chief Executive Officer | Person | CEO of ProCap Acquisition Corp. |
| Catalina Abbey | Chief Financial Officer | Person | CFO of ProCap Acquisition Corp. |
| Michael Gonzalez | Board Member | Person | Board Member of ProCap Acquisition Corp. |
| Lindsey Haswell | Board Member | Person | Board Member of ProCap Acquisition Corp. |
| Ben Buchanan | Board Member | Person | Board Member of ProCap Acquisition Corp. |
| Brent Saunders | Advisor | Person | Advisor to ProCap Acquisition Corp. |