ProCap BTC LLC has updated its merger agreement with Columbus Circle Capital Corp I (NASDAQ:CCCM), a SPAC deal that was recently announced.
ProCap BTC is the creation of Anthony Pompliano, a well-known digital asset advocate.
When the business combination was announced, ProCap BTC revealed that it had purchased Bitcoin at an average price of $103,785 per BTC.
In June 2025, ProCap BTC raised over $750 million as part of the proposed combination, including $516.5 million in a preferred equity offering to certain investors which ProCap BTC used to acquire 4,950 Bitcoin at an average price of $104,343.
Under the agreement, if at the closing of the proposed combination the value of the purchased Bitcoin is greater than the value of the purchased Bitcoin based on the signing price, ProCap BTC unitholders would be entitled to receive additional pro rata shares of common stock of ProCap Financial based on the number of units owned by the particular unitholder immediately prior to closing.
The price of Bitcoin today is around $118,000, meaning the value of the asset has appreciated meaningfully since the SPAC was announced.