Key Takeaways:
- ProCap BTC LLC has successfully gathered over $750 million, and has already allocated more than $500 million for purchasing Bitcoin. The company currently holds 4,950 BTC, as detailed by CEO Anthony Pompliano.
- Shareholders of Columbus Circle Capital Corp (CCCM) can exchange shares for approximately $10 each, ensuring downside protection while the potential market adjustment could elevate share value to around $17.82.
Anthony Pompliano’s ProCap recently highlighted progress on its merging with CCCM—bringing significant changes for investors. ProCap has entered into a $1 billion merger agreement, with a substantial treasury of 4,950 BTC, making it the 13th largest public Bitcoin holder globally.
Image of ProCap BTC
In a notable feature of this business consolidation, CCCM shareholders possess rights to redeem shares for cash held in trust as of the meeting’s record date, with a maximum loss projected at about 55 cents per share if trust values hold steady at $10.
The current trading implied multiple of ProCap is at 1.3x, significantly lower compared to other treasury companies such as Cantor Equity Partners at 2.2x which implies a potential undervaluation for ProCap.
Read more:
ProCap BTC Buys $128M of Bitcoin in a Consecutive Buying Spree.
