PCAPW

ProCap Acquisition Corp warrants are securities that give holders the right to purchase shares of common stock at a specified exercise price, typically $11.50 per share, for a defined period following the completion of a business combination. Warrants become exercisable only after the SPAC completes its merger or acquisition with a target company. They provide leveraged exposure to the performance of the combined entity and typically expire five years after the business combination closes. Warrants trade separately from the common stock and units.