ProCap Financial Inc (NASDAQ: BRR) acquired 450 bitcoin, bringing total holdings to 5,457 BTC and lowering the company's average cost basis per coin.
Share repurchase
Alongside the BTC purchase, ProCap repurchased 782,408 shares of common stock over a 10-day period at a significant discount to net asset value. Total basic shares outstanding now sit at 82,640,367. The company says it intends to continue buying back stock while BRR trades below NAV.
Chairman and CEO Anthony Pompliano:
We are doing two things at the same time: buying Bitcoin to average down our total cost basis and buying back our own stock when the market misprices it. Both actions are accretive to our shareholders.
Context
ProCap Financial is an agentic finance company listed on Nasdaq that holds Bitcoin as its primary treasury reserve asset. The dual approach of accumulating BTC while repurchasing discounted equity is aimed at maximizing per-share NAV for existing shareholders.