03:53 AM EDT, 05/23/2025 (MT Newswires) -- ProCap Acquisition (PCAP, PCAPU) said Thursday it has closed an upsized initial public offering of 25 million units, which includes 3 million units issued to underwriters to cover over-allotments.

The offering, priced at $10.00 per unit, resulted in gross proceeds of $250 million, the blank-check company said.

The units began Nasdaq trading on Wednesday under the ticker symbol "PCAPU," the company said.

Each unit consists of one share and a third of a redeemable warrant, with each whole warrant entitling the holder to purchase a share at an exercise price of $11.50.