Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $2,465,109, primarily from interest earned on cash held in the Trust Account of $2,592,486[120]. - From January 2, 2025, through September 30, 2025, the company had a total net income of $3,390,355, with interest income of $3,707,094 from the Trust Account[121]. - Cash used in operating activities from January 2, 2025, through September 30, 2025, was $347,267, with net income affected by non-cash items including interest income and changes in fair value[126]. - The company incurred general and administrative costs of $134,400 for the three months ended September 30, 2025[120]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on May 22, 2025, raising gross proceeds of $250,000,000 from the sale of 25,000,000 Units[123]. - Following the IPO, a total of $250,000,000 was placed in the Trust Account, with total fees incurred amounting to $14,026,609[125]. - The underwriters are entitled to a deferred underwriting discount of $11,250,000, payable upon the completion of the initial Business Combination[133]. Business Combination Plans - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital[127]. - The company does not anticipate needing to raise additional funds for operating expenditures prior to the Business Combination[130]. - The company has no off-balance sheet arrangements or long-term liabilities as of September 30, 2025[131].
ProCap Acquisition Corp Unit(PCAPU) - 2025 Q3 - Quarterly Report