BRR shareholders have successfully voted to approve a business combination with ProCapBTC, as per an official press release on Wednesday, December 3rd. The deal is expected to close on Friday.
The decision was made at an extraordinary shareholders’ meeting on December 3rd and joins Columbus Capital Circle 1–a publicly traded company with the NASDAQ stock ticker BRR–with ProCapBTC, allowing a relatively new crypto firm to be traded on stock markets. The new combined firm will be called ProCap Financial Inc.
The update follows the company’s announcement in June of a proposed combination with BRR valued at $1 billion.
Decisions such as these are considered reverse mergers, where a private company takes control of a publicly traded firm—which is often a shell company—for the purposes of becoming a tradeable stock on an exchange.
A Financial Times report in June 2025 said that crypto influencer Anthony Pompliano would be taking on a Chief Executive Role at the company, which was touted as a firm that would buy Bitcoin in bulk.
ProCapBTC raised a total of $750 million, of which $235 million is equity, and purchased 3,724 BTC at an average price of $103,785.
The purchase was made before the market crash in November, which saw billions of dollars liquidated from exchanges and an outflow from ETFs of $3.5 billion.
The majority of crypto treasury firms in the market are choosing to hold on to their Bitcoin in the current market as the price slowly recovers, with no major liquidations disclosed.
Strategy’s CEO—Phong Le, who oversees the largest corporate treasury of BTC in the world—has said in an interview with Bloomberg Crypto that there are no plans to sell its BTC and the company would only do so if its NAV (Net Asset Value) fell below 1.