NEW YORK – International law firm Reed Smith has advised ProCap Acquisition Corp, a special purpose acquisition company (SPAC), on its upsized initial public offering (IPO) of $220 million. The offering, which consisted of 22 million units at $10 per unit, is listed on the New York Stock Exchange under the ticker symbol PCAPU. It is expected to close on May 22, 2025, subject to customary closing conditions.
ProCap’s management team is led by Anthony Pompliano, chief executive officer and a member of the board of directors, and Catalina Abbey, chief financial officer. In addition, the board includes Michael Gonzalez, Lindsey Haswell and Ben Buchanan. Brent Saunders serves as an advisor to the company.
The Reed Smith team advising ProCap Acquisition Corp. was led by capital markets and crypto partner Constantine Karides, with support from partners Anne Peetz and Lyn Reinhardt, and associate Alaina Billingham.
This transaction underscores Reed Smith's continued strength in advising SPACs and their sponsors on complex capital markets transactions.