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Columbus Circle Capital Corp I (Nasdaq: CCCM) announced a ticker symbol change from "CCCM" to "BRR" effective July 31, 2025, in connection with its business combination with Anthony Pompliano's ProCap BTC LLC. The new ticker "BRR" stands for "Bitcoin Rate of Return," reflecting the company's vision to evaluate returns in Bitcoin terms.
The resulting entity, ProCap Financial Inc., aims to outperform Bitcoin by accretively acquiring more Bitcoin to increase its Bitcoin-per-share metric. The company's long-term goal is to evolve into a Bitcoin-native financial institution focused on yield-generating strategies and operating cash flows supporting the Bitcoin network.
ProCap BTC LLC and Columbus Circle Capital Corp I (NASDAQ: CCCM) announced the confidential submission of a Form S-4 draft registration statement to the SEC for their proposed business combination. The merger, previously announced on June 23, 2025, will result in the formation of ProCap Financial, a bitcoin-native financial services firm.
The transaction includes a private placement of non-voting preferred units and convertible notes to qualified institutional investors. ProCap BTC, founded by Anthony Pompliano, aims to focus on bitcoin-related activities and developing financial products for institutional investors. The deal's completion is subject to CCCM shareholder approval and other customary closing conditions.
ProCap BTC announced a significant business combination with Columbus Circle Capital Corp. I (NASDAQ: CCCM), forming ProCap Financial in a deal valued at $1 billion. The transaction includes a record-breaking $750 million fundraise, comprising $516.5 million in preferred equity securities and $235 million in senior secured convertible notes commitments.
The deal structure ensures immediate bitcoin exposure for preferred equity investors, with ProCap BTC committing to purchase bitcoin within 15 days of signing. Anthony Pompliano, ProCap BTC's founder and CEO, will lead the combined entity as CEO. The transaction represents a milestone in institutional bitcoin adoption, positioning ProCap Financial to become a leading financial services firm bridging bitcoin and traditional finance.
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