UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-42653 COLUMBUS CIRCLE CAPITAL CORP I (Exact name of registrant as specified in its charter) | Cayman Islands | 99-3947168 | ...

or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File Number: 001-42653 COLUMBUS CIRCLE CAPITAL CORP I (Exact name of registrant as specified in its charter) Cayman Islands 99-3947168 (State or other jurisdiction of incorporatio ...

Core Viewpoint - ProCap BTC and Columbus Circle Capital Corp I have amended their business combination agreement to enhance shareholder value by providing exposure to Bitcoin price appreciation for CCCM public shareholders who do not redeem their shares [1][4] Financial Overview - ProCap BTC raised over $750 million in June 2025, including $516.5 million from a preferred equity offering, which was used to acquire 4,950 Bitcoin at an average price of $104,343 [2] - As of July 27, 2025, the value of the purchased Bitcoin is approximately $588.6 million, based on a Bitcoin price of $118,900 [2] Business Combination Agreement Details - The agreement stipulates that if the value of the purchased Bitcoin exceeds the signing price at closing, ProCap BTC unitholders will receive additional shares of ProCap Financial based on their ownership [3] - Adjustment shares will be allocated according to a predetermined formula, with 85% going to preferred equity investors and the remaining 15% initially allocated to Inflection Points Inc. but now redirected to CCCM public shareholders who do not redeem their shares [4] Company Background - ProCap BTC is a Bitcoin-native financial services firm founded by Anthony Pompliano, who is recognized as a leading voice on Bitcoin [6] - ProCap Financial, the resulting entity from the business combination, aims to develop profit-generating products and services tailored for large financial institutions and institutional investors [6] Management Team - Columbus Circle Capital Corp I is led by experienced investment bankers, including Chairman and CEO Gary Quin, COO Dan Nash, and CFO Joseph W. Pooler, Jr., who collectively bring extensive expertise in M&A, private equity, and capital markets [7]

Company Overview - ProCap BTC, LLC is a bitcoin-native financial services firm founded by Anthony Pompliano, who has invested in over 300 private companies and is a prominent voice on bitcoin globally [5] - The company is in the process of a proposed $1 billion business combination with Columbus Circle Capital Corp. I to go public as ProCap Financial, Inc. [1][3] Recent Developments - ProCap BTC has purchased 1,208 bitcoin at a time-weighted average price of $105,977 per bitcoin, increasing its total holdings to 4,932 bitcoin [1][2] - The acquisition is part of the company's ongoing bitcoin purchase program, aimed at providing immediate bitcoin exposure to equity investors [2] Future Strategy - ProCap BTC plans to continue accumulating bitcoin for its balance sheet, with expectations to hold up to $1 billion in bitcoin upon closing the proposed business combination [3] - The company views bitcoin as a new hurdle rate and intends to implement various profit-generating products and services tailored for large financial institutions and institutional investors [3][5] Business Combination Details - The business combination agreement was signed on June 23, 2025, and involves multiple parties including Crius SPAC Merger Sub, Inc. and Inflection Points Inc. [7] - ProCap Financial will file a Registration Statement with the SEC, which will include a preliminary proxy statement and a prospectus related to the proposed transactions [7][8]

Company Overview - ProCap BTC, LLC is a bitcoin-native financial services firm founded by Anthony Pompliano, who has invested in over 300 private companies and is a prominent voice on bitcoin globally [5] - The company is in the process of a proposed $1 billion business combination with Columbus Circle Capital Corp. I to go public as ProCap Financial, Inc. [1][3] Bitcoin Acquisition - ProCap BTC has purchased 3,724 bitcoin at a time weighted average price of $103,785 per bitcoin, as part of its ongoing bitcoin purchase program [1][2] - Following the business combination, ProCap Financial is expected to hold up to $1 billion in bitcoin on its balance sheet [3] Investment Strategy - The company aims to continue acquiring bitcoin as part of its business strategy, believing that bitcoin represents a new hurdle rate for investments [3][4] - Equity investors have received immediate bitcoin exposure from the funds raised during the equity raise [2] Business Combination Details - The business combination agreement was signed on June 23, 2025, and involves multiple parties including Crius SPAC Merger Sub, Inc. and Inflection Points Inc. [7] - ProCap Financial will focus on developing profit-generating products and services tailored to the financial needs of large institutions and investors [5] Leadership and Management - Columbus Circle Capital Corp. I is led by experienced investment bankers, including Chairman and CEO Gary Quin, COO Dan Nash, and CFO Joseph W. Pooler, Jr. [6]

Core Insights - ProCap BTC, LLC, a bitcoin-native financial services firm, is merging with Columbus Circle Capital Corp. I, a SPAC, to form ProCap Financial, Inc. [1][6] - The combined entity will have up to $1 billion in bitcoin on its balance sheet, with a record fundraising of $516.5 million in equity and $235 million in convertible notes [2][6] - ProCap Financial aims to bridge the gap between bitcoin and traditional finance, leveraging its bitcoin holdings to generate revenue [4][5] Company Overview - ProCap BTC, LLC is founded by Anthony Pompliano, a prominent figure in the bitcoin space, who has invested in over 300 private companies [16] - ProCap Financial will focus on providing financial services tailored to the needs of institutional investors and large financial institutions [16] - The leadership of ProCap Financial will include Anthony Pompliano, who is recognized for his innovative investment strategies in the bitcoin ecosystem [5][16] Financial Details - The business combination will result in ProCap Financial being publicly listed, with the total expected funds for bitcoin purchases reaching up to $1 billion [2][6] - The financing structure includes a $516.5 million preferred equity raise and $235 million in senior secured convertible notes, marking the largest initial fundraise for a public bitcoin treasury company [2][9] - The convertible notes will have a 130% conversion rate, zero interest, and a maturity of up to 36 months, secured by cash and bitcoin [9] Strategic Goals - ProCap Financial intends to utilize its bitcoin balance sheet to implement various revenue-generating strategies [4][8] - The company aims to develop risk-mitigated solutions to meet the growing demand for bitcoin-native financial services among sophisticated investors [5][8] - The leadership emphasizes the transformative potential of bitcoin in disrupting the legacy financial system [5]

Core Points - Columbus Circle Capital Corp I announced that starting June 9, 2025, holders of units from its initial public offering can separately trade Class A ordinary shares and warrants [1] - The separated Class A ordinary shares and warrants will trade on the Nasdaq Global Market under the symbols "CCCM" and "CCCMW," while unsplit units will continue to trade under "CCCMU" [1] - Cohen & Company Capital Markets acted as the lead book-running manager for the offering, with Clear Street LLC as the joint book-runner [1] Company Overview - Columbus Circle Capital Corp I is a blank check company formed to effect mergers, amalgamations, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations with one or more businesses [3] - The company may pursue initial business combination targets across various industries and geographical locations [3]