ProCap Financial to acquire AI fintech CFO Silvia; repurchases $135M in convertible notes

ProCap Financial, Inc.

Merger: ProCap to acquire CFO Silvia (AI software) for stock consideration; earnout triggers at $9.00 share price.
Repurchased ~$135M aggregate principal of 0% convertible notes for ~$119M cash; outstanding reduced to ~$100M.
Shain Noor to become CTO post-merger with $700K base salary, $5M signing bonus, and $4M RSUs.
Company expands AI/automation strategy; plans to integrate CFO Silvia's platform; continues to hold Bitcoin.
Post-repurchase collateral: 2,800 BTC and $145M cash, maintaining compliance with 1:1 loan-to-collateral ratio.

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accession 0001493152-26-005670

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