TSX runs higher on rate cut expectations
NEW YORK - ProCap BTC LLC and Columbus Circle Capital Corp I (Nasdaq:CCCM), currently trading at $10.61 and showing a weak financial health score according to InvestingPro, have amended their business combination agreement to allow CCCM public shareholders to benefit from Bitcoin price appreciation, according to a press release statement issued Monday.
The amendment reallocates adjustment shares that would have gone to Anthony Pompliano’s investment firm to CCCM public shareholders who do not redeem their shares in connection with the transaction.
In June 2025, ProCap BTC raised over $750 million as part of the proposed business combination, including $516.5 million from preferred equity investors. The company used these funds to purchase 4,950 Bitcoin at an average price of $104,343. As of July 27, the Bitcoin price has risen to approximately $118,900, increasing the value of the purchased Bitcoin to about $588.6 million.
Under the original agreement, if Bitcoin’s price increased between signing and closing, ProCap BTC unitholders would receive additional shares of the go-forward public company, ProCap Financial, Inc. The preferred equity investors were allocated 85% of these potential adjustment shares, with the remaining 15% initially allocated to Pompliano’s firm.
The amendment redirects this 15% portion to CCCM public shareholders who maintain their investment through the closing of the transaction.
ProCap BTC is a Bitcoin-native financial services firm founded by Anthony Pompliano, while CCCM is a Cayman Islands-incorporated special purpose acquisition company led by Chairman and CEO Gary Quin.
The companies have stated they intend to file a Registration Statement on Form S-4 with the SEC in connection with the proposed business combination and related transactions. For deeper insights into CCCM’s financial health and additional analysis tools, investors can access more than 30 key financial metrics and exclusive ProTips through InvestingPro.
In other recent news, ProCap BTC LLC and Columbus Circle Capital Corp I have taken a significant step forward in their proposed business combination by submitting a draft registration statement on Form S-4 to the Securities and Exchange Commission. This merger process, initially announced in June 2025, is still subject to customary closing conditions, including approval from Columbus Circle Capital shareholders. Additionally, ProCap Financial, Inc. will be established through a $750 million capital raise linked to this business combination. This transaction involves a collaboration between entrepreneur Anthony Pompliano’s ProCap BTC and the Cayman Islands-based SPAC sponsored by Cohen & Company, Ltd. Upon completion, the new entity is anticipated to be listed on Nasdaq. These developments mark important progress in the merger and capital formation process for the involved companies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.