ProCap Acquisition Corp Just Listed On Nasdaq

To investors,

I have spent the last 15 years of my career in the private markets. I started out building companies, then went to work at Facebook, and eventually became a full-time investor. I always joke that my generation watched The Social Network movie and everyone wanted to be the next Zuckerberg or they wanted to invest in him.

My generation has over-rotated to private markets. It is impossible to ignore. But I think we are about to witness a rotation back to the public market. Undisciplined monetary and fiscal policy globally is creating a structural tailwind for liquid traded assets, including public stocks, gold, and bitcoin. If your entire financial life is invested in the private market, you are not benefitting as much from the structural advantage central banks have created.

So my intention over the coming years is to expand what I do in the public markets. I won’t stop investing in the private market, nor will I stop building startups, but I am working diligently to add the public market to my purview as an entrepreneur and investor.

I have been working on my first major public market deal for the last 6 months or so. Last night we priced the ProCap Acquisition Corporation ($PCAPU) and it will begin trading today. BTIG, the exclusive book runner on the deal, told us that the $PCAPU IPO had approximately $1.79 billion in demand from investors even though it was only supposed to be a $200 million SPAC. We have chosen to upsize the fundraise to a total of $250 million.

So why did I raise $250 million? Why did I choose to do it in a publicly traded vehicle that anyone can buy the stock ticker?

Simply, I want to acquire a profitable company and help them enter the public markets. Using the SPAC structure can be an efficient way to do this, along with allowing independent investors and institutions to participate alongside our investment firm.

My big idea is to find a business that can benefit from large digital distribution. If you think of other people who have large online audiences, they have been able to build or buy companies, strip out a lot of the sales/marketing costs, and help increase revenue without increasing expenses. My goal is to do a similar thing with this vehicle.

One of the main issues with SPACs over the last 5 years or so has been a lack of discipline. Many sponsors were conducting public venture capital. They would purchase a money-losing company at a high valuation and hope the business grew into the valuation. While some successfully grew into the valuation, many did not.

Instead of doing public venture capital, I am interested in buying a cash-flow positive business at an attractive valuation. If I can successfully do that, plus leverage the digital distribution to continue building the company post-transaction, than I believe there is a chance of creating shareholder value for myself, our investment firm, and public shareholders.

This body of work is going to be difficult. We have to find a good business, negotiate a fair price, and then help that company build value over time. I wanted to make sure I had help in doing this, so I asked my friend Brent Saunders, the current CEO of Bausch & Lomb, to join as a Special Advisor to the company. Brent has done more than $300 billion in M&A and served as a public company CEO for about 17 years. I am very thankful and fortunate to have Brent helping me.

ProCap Acquisition Corp ($PCAPU) started trading publicly this morning on the Nasdaq. We are on the hunt for a good, profitable business that wants to get into the public markets at an attractive valuation. There is a lot of work ahead but I am energized and excited about this effort.

Obviously there are many regulatory considerations on what I can and can not say throughout this process, but I will do my best to keep everyone informed on progress and my thoughts as we proceed. I appreciate everyone who has already reached out with support and look forward to talking to the founders and executives of many great companies in the coming weeks.

Hope everyone has a great day. I’ll talk to everyone tomorrow.

- Anthony Pompliano

Founder & CEO, Professional Capital Management

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Why Big Banks Are Embracing Bitcoin

Polina Pompliano, Author of ‘Hidden Genius’ and Founder of The Profile, and Anthony Pompliano, Author of ‘How To Live An Extraordinary Life’ and CEO of Professional Capital Management, discuss bitcoin, Jamie Dimon & JP Morgan, inflation, Genius Act, and a mind-blowing story Anthony had with a financial institution.

Enjoy!

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You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren't finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research.

BTIG, LLC is acting as sole book-running manager for the offering. Reed Smith LLP is serving as legal counsel to the Company and Walkers (Cayman) LLP is serving as Cayman Island counsel to the Company. Kirkland & Ellis LLP is serving as legal counsel to the underwriter.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at [email protected] or by accessing the SEC's website, www.sec.gov.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective on May 20, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This letter contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds will be used as indicated.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the "Risk Factors" section of the Company's registration statement and prospectus for the Company's initial public offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View original press release: https://www.prnewswire.com/news-releases/procap-acquisition-corp-announces-the-pricing-of-upsized-220-000-000-initial-public-offering-302461285.html

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