BRR Research | Milton Maxwell

BRR

ProCap Financial, Inc.

3.1700

-0.1400-4.23%

Dec 16, 4:00:01 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

292.15M

P/E (TTM)

Basic EPS (TTM)

Dividend Yield

Recent Filings

8-K

Approves $100M buyback program

12/12/25Dec 12, 2025

ProCap Financial's board approved a $100 million share repurchase program on December 11, 2025, targeting its common stock via open market buys and other compliant methods. The next day, it inked a repurchasing deal with TD Securities, paying $0.02 per share commission. Repurchases hinge on capital, markets, and performance. No fixed timeline set.

8-K

ProCap completes SPAC, hits 5K BTC

12/11/25Dec 11, 2025

ProCap Financial closed its SPAC merger with CCCM on December 5, 2025, issuing 10M shares to common holders and 64.6M to preferred holders while absorbing 4,951 Bitcoin. Shares began Nasdaq trading December 8 under BRR. Post-close Bitcoin trades added 49 BTC for 5,000 total, yet $235M convertible notes—two-times BTC-collateralized—add leverage amid crypto swings.

10-Q

Q3 FY2025 results

12/11/25Dec 11, 2025

ProCap Financial posted a $319K operating loss for Q3 ended September 30, 2025—its first full quarter since June 17 inception—driven by general and administrative expenses, with total accumulated deficit at $329K and zero cash. Balance sheet shows $329K liabilities from a related-party promissory note ($209K) and payables. No revenue yet; operations fully pre-funded by related party. Business combination closed December 5, issuing 85.2M shares and 12.9M warrants; $235M convertible notes (0% interest, 36-month maturity, 2x collateralized by bitcoin/cash) followed for bitcoin buys. Bitcoin price volatility looms large.

8-K

Earnout locks 17.8M shares

12/5/25Dec 5, 2025

Columbus Circle Capital Corp I locked sponsor's 8,333,333 and seller's 9,500,000 Pubco shares under earnout agreements effective December 3, 2025, ahead of the ProCap business combination closing. Shares vest fully if Pubco stock hits $10.21 for 20-of-30 trading days, BTC VWAP reaches $140,000 over five days, or by two-year anniversary. Earnouts align insiders with shareholders. One director resigned amicably.

8-K

SPAC merger approved

12/4/25Dec 4, 2025

Columbus Circle Capital Corp I shareholders approved its business combination with ProCap BTC on December 3, 2025, with the Domestication and key merger proposals passing overwhelmingly despite some opposition on Business Combination vote (19.4M for, 7.2M against). The SPAC will domesticate to Delaware, merge into Pubco, and relaunch as ProCap Financial, trading as BRR on Nasdaq. Closing eyed for December 5. Redemptions risk diluting float.