ProCap Acquisition, a blank check company led by the founder of investment firm Professional Capital Management, raised $220 million by offering 22 million units at $10. The company offered 2 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
ProCap Acquisition is led by CEO and Director Anthony Pompliano III, the founder and CEO of global investment firm Professional Capital Management. The SPAC plans to target the financial services industry, focusing on businesses in the US.
ProCap Acquisition plans to list on the Nasdaq under the symbol PCAPU. BTIG acted as sole bookrunner on the deal.
