ProCap Acquisition Corp
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
PCAP$10.42-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Balance Sheet as of September 30, 2025 (Unaudited)
BALANCE SHEET
| Assets: | |
|---|---|
| Current assets | |
| Cash | $1,208,574 |
| Prepaid expenses | 122,991 |
| Total current assets | 1,331,565 |
| Cash held in Trust Account | 253,707,094 |
| Total Assets | $255,038,659 |
| Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | |
| Current liabilities | |
| Accrued offering costs | $75,000 |
| Accrued expenses | 22,779 |
| Promissory note – related party | 23,345 |
| Total current liabilities | 121,124 |
| Deferred underwriting fee | 11,250,000 |
| Total Liabilities | 11,371,124 |
| Commitments and Contingencies (Note 6) | |
| Class A ordinary shares subject to possible redemption, $0.0001 par value; 25,000,000 shares at redemption value of $10.15 per share | 253,707,094 |
| Shareholders’ Deficit | |
| Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding | — |
| Class A ordinary shares, $0.0001 par value; 300,000,000 shares authorized; 430,000 shares issued and outstanding (excluding 25,000,000 shares subject to possible redemption) | 43 |
| Class B ordinary shares, $0.0001 par value; 30,000,000 shares authorized; 6,250,000 shares issued and outstanding (1) | 625 |
| Additional paid-in capital | — |
| Accumulated deficit | (10,040,227) |
| Total Shareholders’ Deficit | (10,039,559) |
| Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption, and Shareholders’ Deficit | $255,038,659 |
STATEMENTS OF OPERATIONS
| For the Three Months Ended September 30, 2025 | For the period from January 2, 2025 (Inception) Through September 30, 2025 | |
|---|---|---|
| General and administrative costs | $134,400 | $337,950 |
| Loss from Operations | (134,400) | (337,950) |
| Other income: | ||
| Change in fair value of over-allotment option liability | 7,023 | 21,211 |
| Interest earned on cash held in Trust Account | 2,592,486 | 3,707,094 |
| Total other income | 2,599,509 | 3,728,305 |
| Net income | $2,465,109 | $3,390,355 |
| Basic weighted average shares outstanding of Class A ordinary shares subject to possible redemption | 25,000,000 | 12,084,871 |
| Basic net income per ordinary share, Class A ordinary shares subject to possible redemption | $0.08 | $0.19 |
| Diluted weighted average shares outstanding of Class A ordinary shares subject to possible redemption | 25,000,000 | 12,084,871 |
| Diluted net income per ordinary share, Class A ordinary shares subject to possible redemption | $0.08 | $0.18 |
| Basic weighted average shares outstanding of Class A and Class B ordinary shares not subject to possible redemption | 6,680,000 | 5,928,339 |
| Basic net income per ordinary share, Class A and Class B ordinary shares not subject to possible redemption | $0.08 | $0.19 |
| Diluted weighted average shares outstanding of Class A and Class B ordinary shares not subject to possible redemption | 6,680,000 | 6,296,421 |
| Diluted net income per ordinary share, Class A and Class B ordinary shares not subject to possible redemption | $0.08 | $0.18 |
STATEMENT OF CHANGES IN SHAREHOLDERS’ DEFICIT
FOR THE PERIOD FROM JANUARY 2, 2025 (INCEPTION) THROUGH SEPTEMBER 30, 2025
| Class A Ordinary Shares · Class B Ordinary Shares · Additional Paid-in · Accumulated · Total Shareholders’ | |||||||
|---|---|---|---|---|---|---|---|
| Shares | Amount | Shares | Amount | Capital | Deficit | Deficit | |
| Balance — January 2, 2025 (inception) | — | $— | — | $— | $— | $— | $— |
| Class B ordinary shares issued to Sponsor (1) | — | — | 6,325,000 | 633 | 24,367 | — | 25,000 |
| Net loss | — | — | — | — | — | (70,019) | (70,019) |
| Balance – March 31, 2025 | — | $— | 6,325,000 | $633 | $24,367 | $(70,019) | $(45,019) |
| Accretion for Class A ordinary shares to redemption value | — | — | — | — | (6,028,196) | (10,838,104) | (16,866,300) |
| Sale of Private Placement Units | 430,000 | 43 | — | — | 4,299,957 | — | 4,300,000 |
| Fair Value of Public Warrants at issuance | — | — | — | — | 1,816,667 | — | 1,816,667 |
| Allocated value of transaction costs to Private Placement Units, Public Warrants and Over-allotment option | — | — | — | — | (112,795) | — | (112,795) |
| Net income | — | — | — | — | — | 995,265 | 995,265 |
| Balance – June 30, 2025 | 430,000 | $43 | 6,325,000 | $633 | $— | $(9,912,858) | $(9,912,182) |
| Forfeiture of Founder Shares | — | — | (75,000) | (8) | 8 | — | ― |
| Accretion for Class A ordinary shares to redemption value | — | — | — | — | (8) | (2,592,478) | (2,592,486) |
| Net income | — | — | — | — | — | 2,465,109 | 2,465,109 |
| Balance – September 30, 2025 | 430,000 | $43 | 6,250,000 | $625 | $— | $(10,040,227) | $(10,039,559) |
| (1) | Included up to 75,000 Class B ordinary shares that were subject to forfeiture if the remainder of the over-allotment option is not exercised in full or in part by the underwriters (see Note 5). The remaining founder shares were forfeited on July 6, 2025, the expiration date of the over-allotment option, as the over-allotment option remained unexercised (see Note 9). |
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