08:07 AM EDT, 05/21/2025 (MT Newswires) -- ProCap Acquisition ( PCAPU ) said Tuesday it has priced its upsized initial public offering of 22 million units at $10 per unit to raise $220 million.

The units are set to begin trading on Nasdaq Wednesday under the ticker symbol PCAPU.

Each unit consists of one Class A ordinary share and one-third of a redeemable warrant, the company said. Each whole warrant entitles the holder to purchase one Class A share at $11.50. Once separated, the shares and warrants will trade under the symbols PCAP and PCAPW, respectively, ProCap said.

ProCap said it granted underwriters a 45-day option to buy up to 3.3 million additional units at the IPO price to cover over-allotments. The offering is expected to close on Thursday.

ProCap is a blank check firm targeting a business combination with a middle market company and is led by Chief Executive Anthony Pompliano and Chief Financial Officer Catalina Abbey.