ProCap Acquisition Corp (NASDAQ: PCAP) is a blank-check special purpose acquisition company (SPAC) formed on January 2, 2025, that was organized to identify and complete a merger or acquisition with one or more target businesses. The company raised $250,000,000 through an initial public offering of 25,000,000 units at $10.00 per unit, completed on May 22, 2025, with proceeds held in a Trust Account pending an initial Business Combination. An additional $4,300,000 was raised through the sale of 430,000 Private Placement Units to sponsor ProCap Acquisition Sponsor, LLC at $10.00 per unit. The company has not yet identified a target business as of the 10-K filed March 17, 2026. CEO and Director Anthony J. Pompliano III, founder of Professional Capital Management (formerly Inflection Points, Inc.), controls the Sponsor entity. Net income for the period from inception through December 31, 2025, was $5,659,179, consisting primarily of $6,108,053 in interest income earned on Trust Account cash.

Revenue model

No operating revenue. Income is generated solely from interest on the $250,000,000 held in the Trust Account. For the period from January 2, 2025 (inception) through December 31, 2025, interest income from the Trust Account was $6,108,053.

Products and services

Units comprising Class A ordinary shares and warrants, sold at $10.00 per unit in the May 22, 2025 IPO. Private Placement Units sold to the Sponsor at $10.00 per unit. No operating products or services as of December 31, 2025.

Customers and end markets

Public shareholders who purchased units in the May 22, 2025 IPO. The end market is determined by the target business identified for the initial Business Combination, which had not been selected as of the 10-K filed March 17, 2026.

Value-chain role

SPAC sponsor and acquirer. Raises capital through public markets and holds proceeds in trust, then deploys capital to acquire or merge with a private operating business.

Geographic exposure

Incorporated as a Cayman Islands entity. IPO conducted in the United States. Sponsor is a Delaware limited liability company. No operating geographic footprint disclosed as of December 31, 2025.

Source: SEC 10-K, filed 2026-03-17

Industry: Blank Checks