BofA update shows where active managers are putting money
NEW YORK - ProCap BTC LLC and Columbus Circle Capital Corp I (NASDAQ:CCCM), currently valued at $352 million, announced Thursday they have confidentially submitted a draft registration statement on Form S-4 to the Securities and Exchange Commission related to their proposed business combination. According to InvestingPro data, CCCM shares have shown significant price volatility in recent months.
The filing marks a key step in the merger process that was initially announced on June 23, 2025. The transaction remains subject to customary closing conditions, including approval from CCCM shareholders.
ProCap BTC, founded by Anthony Pompliano, focuses on bitcoin holdings and education. The company resulting from the merger, ProCap Financial, plans to develop profit-generating products and services targeting large financial institutions and institutional investors.
Columbus Circle Capital Corp I is a special purpose acquisition company led by Chairman and CEO Gary Quin, who brings over 25 years of experience in cross-border M&A, private equity, and capital markets.
The draft registration statement is expected to include details about the business combination, a private placement of non-voting preferred units of ProCap BTC to qualified institutional buyers, and commitments by institutional investors to purchase convertible notes issued by ProCap Financial.
When finalized, the definitive proxy statement will be mailed to CCCM shareholders to vote on the proposed transaction and related matters.
The announcement was made through a press release statement that included extensive legal disclosures regarding forward-looking statements, participant information, and notices that the SEC has not yet approved or disapproved the proposed transactions.
In other recent news, ProCap Financial, Inc. is set to emerge through a significant business combination involving a $750 million capital raise. This development involves ProCap BTC, LLC joining forces with Columbus Circle Capital I, a special purpose acquisition company (SPAC) sponsored by Cohen & Company, Ltd. The transaction is expected to culminate in the listing of the newly formed entity on Nasdaq. Entrepreneur Anthony Pompliano is a key figure in this merger, bringing his expertise from ProCap BTC. This strategic move underscores a growing interest in the bitcoin treasury business. The merger’s completion will pave the way for ProCap Financial to potentially capitalize on the increasing momentum within the cryptocurrency sector. Investors and analysts will likely keep a close watch on this development as it progresses.
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