ProCap Acquisition Corp reported first-quarter 2026 results, posting net income of $1.94M and diluted earnings per share of $0.06, compared with a net loss of $(70.0K) and EPS of $(0.01) in the year-ago quarter. The company, a blank‑check SPAC, had no operating revenue; results were driven by interest earned on its trust account.
Financial Highlights
- Revenue: Not reported for the periods (company is a blank‑check SPAC; income comprised of interest on Trust Account).
- Net income: $1.94M for Q1 2026 vs. $(70.0K) in Q1 2025 — swing to profit driven by $2.16M interest on Trust Account.
- Diluted EPS: $0.06 for Q1 2026 (basic & diluted), vs. $(0.01) for Q1 2025.
Business Highlights
- Business focus remains on identifying and completing a Business Combination targeting one or more private businesses.
- Operational activity is limited to formation, IPO preparation, target identification and due diligence; the company has no operating revenues to date.
- $250M is held in the Trust to fund a future acquisition; interest income from the Trust supports pre-combination operations.
- Ongoing G&A and due diligence costs are funded by trust interest and sponsor loans as the sponsor pursues transactions.
Original SEC Filing:
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