CCCM News & Events

ProCap BTC announced Jeff Park as Partner and Chief Investment Officer. Jeff joins ProCap BTC from Bitwise Asset Management, where he previously was Head of Alpha Strategies. Jeff is joining Anthony Pompliano and ProCap BTC to build one of the leading bitcoin-native financial services companies. ProCap BTC will become ProCap Financial at the conclusion of ProCap BTC's proposed business combination with Columbus Circle Capital Corp I.

Columbus Circle Capital Corp I announced that the ticker symbol for its Class A ordinary shares will change from "CCCM" to "BRR" in connection with its previously announced business combination with Anthony Pompliano's ProCap BTC. In addition, the ticker symbol for its units will change from "CCCMU" to "BRRWU" and the ticker symbol for its warrants will change from "CCCMW" to BRRWW." The ticker symbol changes will take place at the opening of trading on The Nasdaq Global Market on Thursday, July 31, 2025. BRR stands for "Bitcoin Rate of Return," a concept that ProCap BTC believes will emerge as a defining performance metric in the next era of finance. As traditional currencies face ongoing debasement, ProCap BTC advocates for a shift in perspective to evaluating returns not in nominal U.S. dollars, but in Bitcoin, as one of the world's most sound and scarce monetary assets.Upon completion of the proposed Business Combination, the goal of the go-forward public company, ProCap Financial Inc. is to outperform Bitcoin by accretively acquiring more Bitcoin to grow ProCap Financial's Bitcoin-per-share. In addition, ProCap Financial's long-term ambition is to evolve into a full-spectrum Bitcoin-native financial institution where every dollar raised, deployed, or borrowed ultimately compounds back into more Bitcoin per share through differentiated yield-generating strategies and operating cash flows that will support the Bitcoin network and its ecosystem partners. Given ProCap Financial's planned strategic focus on generating a compelling Bitcoin rate of return, the transition to the ticker symbol BRR serves as a clear reflection of its long-term vision and alignment with its core objective.

ProCap BTC and Columbus Circle Capital Corp I entered into an amendment to their previously announced business combination agreement, which is intended to provide CCCM public shareholders with exposure to the price appreciation of Bitcoin held on ProCap BTC's balance sheet. This initiative is designed to benefit the CCCM public shareholders who choose not redeem their CCCM public shares in connection with the proposed business combination between the parties by providing them an opportunity to receive an additional number of shares of common stock of the go-forward public company, ProCap Financial. In June 2025, ProCap BTC raised over $750M as part of the proposed Business Combination, including $516.5M in a preferred equity offering to certain investors, which ProCap BTC used to acquire 4,950 Bitcoin at an average price of $104,343. As of July 27, the price of Bitcoin is approximately $118,900, implying an aggregate value of $588.6 million for the Purchased Bitcoin. Under the Business Combination Agreement, if at the closing of the proposed Business Combination the value of the Purchased Bitcoin, based on the price of Bitcoin as determined pursuant to the Business Combination Agreement, 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. These adjustment shares are allocated based on a predetermined formula set forth in the Business Combination Agreement, with 85% of the adjustment shares that may be issued allocated to the preferred equity investors. Prior to the Amendment, the remaining 15% of the adjustment shares that may be issued at the closing were initially allocated to Anthony Pompliano's investment firm, Inflection Points, DBA Professional Capital Management, as the sole common unitholder of ProCap BTC. Under the Amendment, CCCM and ProCap BTC have elected to reallocate such adjustment shares to the CCCM public shareholders who do not redeem their shares of CCCM in connection with the closing of the proposed transaction.