Press Release

Morgan Lewis Advises on ProCap Financial $750M Bitcoin Treasury Private Placements

2025年06月23日

NEW YORK, June 23, 2025: Morgan Lewis advised the joint co-placement agents in over $750 million of private placements in connection with the combination of ProCap BTC, LLC and Columbus Circle Capital Corp. I.

ProCap BTC, LLC is a bitcoin-native financial services firm founded by Anthony Pompliano. Pompliano has invested in more than 300 private companies and is one of the leading voices on bitcoin globally. Columbus Circle Capital Corp. I (NASDAQ: CCCM) is a special purpose acquisition company (SPAC) sponsored by a controlled subsidiary of Cohen & Company Inc. formed for the purpose of entering into a business combination with one or more businesses.

At the closing of the proposed business combination, the combined company will operate as ProCap Financial, Inc., with up to $1 billion in bitcoin on its balance sheet. Entities in the proposed transaction raised $516.5 million in equity and $235 million in convertible notes, the largest initial fundraise in history for a public bitcoin treasury company.

ProCap Financial, Inc. will focus on implementing various profit-generating products and services to support the unique financial needs of large financial institutions and institutional investors.

The Morgan Lewis team advising the placement agents includes partners Rahul Patel and Kevin Shmelzer and associate Maddy Anand.

For more, read the announcement.