Latest news with #PCAP
Yahoo
23-05-2025
- Business
- Yahoo
ProCap Acquisition Corp Announces Closing of Upsized $250 Million Initial Public Offering
New York, May 22, 2025 /PRNewswire/ -- ProCap Acquisition Corp (the "Company") announced today the closing of its upsized initial public offering of 25,000,000 units, which includes 3,000,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000. The Company's units began trading on May 21, 2025 on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "PCAPU." Each unit consists of one Class A ordinary share of the Company and one-third of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols "PCAP" and "PCAPW," respectively. The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but is focused on completing a business combination with an attractive target businesses within the financial technology industry. The Company's management team is led by Anthony Pompliano, its Chief Executive Officer and a member of the Board of Directors of the Company (the "Board"), and Catalina Abbey, Chief Financial Officer. In addition, the Board includes Michael Gonzalez, Lindsey Haswell, and Ben Buchanan. Brent Saunders serves as an Advisor to the Company. BTIG, LLC acted as sole book-running manager for the offering. Reed Smith LLP served as legal counsel to the Company and Walkers (Cayman) LLP served as Cayman Islands counsel to the Company. Kirkland & Ellis LLP served as legal counsel to the underwriter. The offering was made only by means of a prospectus, copies of which may be obtained from: BTIG, LLC, 65 East 55th Street New York, New York 10022, Attn: Syndicate Department, BTIGSyndicateCoverage@ A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on May 20, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. FORWARD-LOOKING STATEMENTS This press release contains statements that constitute "forward-looking statements," including with respect to the anticipated use of the net proceeds of the offering and the Company's search for an initial business combination. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. View original content: SOURCE ProCap Acquisition Corp Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- General
- Yahoo
Growing gains: LHS PTECH program evolves after successful two years
The PTECH program at Logansport High School welcomed in their third class of students Wednesday night at the McHale Performing Arts Center, and with those 24 new students come some other changes as the program evolves. The program is changing its name from PTECH (Pathways to Technology Early College High School) to PCAP (Pathways in Careers and Postsecondary) to match the name change at the state level. PCAP students (called scholars in the program) will also study at The Academy, {span}410 W. Miami Ave.,{/span} beginning in the fall. There are some exceptions for the two classes of scholars that came before them. Next year's junior students, the original class, will remain at LHS through the remainder of high school. The junior year is called Chapter Three in PCAP. Those students in the program who will be sophomores in the fall (Chapter Two) will do split days between the high school and The Academy. 'It was really important to us to keep these students as LHS students so that they also have the option of participating in extracurricular activities and athletics, particularly with our (incoming sophomores) because nine of the 16 are in athletics,' said Christy Diehl, secondary curriculum director. New scholars to the program will attend The Academy where the former library will be converted into a PCAP learning space. The Chapter One scholars recently toured the space and began designing a classroom layout for the room as part of a workplace challenge. 'We are super excited to be able to host this program here on this campus,' said Diehl. Greg Grostefon, principal at The Academy, will oversee PCAP and will be joined by Amy Werner, the school's new assistant principal. LCSC educators Grace Scott and Chris Middleton will also be onboard as lead learners. Grostefon said that The Academy's nontraditional class schedule and structure made PCAP a perfect fit for the school. Many of the students at The Academy take classes online or have a schedule combining in person and online instruction. 'I think it's important to note that education isn't one size fits all,' said Diehl. 'Having an opportunity like The Academy gives students who need something different hope at the end when they weren't really sure what they may be doing or how they would fit in to a bigger school. That comes to stigma breaking, too. When it comes to alternative education people have one idea in mind. I know that Greg all the time has the doors open and says 'please come in and see what we are doing' because it's incredible.' 'Our kids are here because they need something different and they are here for a lot of different reasons,' said Werner. 'Different comes in a lot of forms but they are getting their education. They are going to graduate. That's the biggest gift we can give to them.' Wednesday night, current program scholars spoke of the importance that it had already played in their lives after just one or two years. Roslyn Morgan, a scholar finishing Chapter Two of the program, recounted the difficulties she had in a traditional classroom due to shyness and a lack of self confidence. She reluctantly signed up for PTECH when it started but with the expectation she would eventually drop out and have no future in life. 'I wouldn't have been able to even speak here tonight without PTECH,' she said. 'It's difficult to put into words how much this program has helped me. I felt like I didn't have a voice before this program. It scared me to speak my opinions because it felt like every idea I had was stupid. I hated it, going to school and just being silent almost the entire day. That fear and insecurity held me back greatly, and it's something I still struggle with. PTECH, however, helped me start that turning point.' Now Morgan is on her way to earning an associate degree in building construction technology through Ivy Tech as part of the program and has plans to continue her education at Purdue. Noah Overmyer, a Chapter One scholar, said he lacked interest in school before joining the program, comparing the traditional classroom as a prison cell. His GPA was nearly nonexistent. However, once he started into the program he found himself excited to have the opportunity to do hands on learning projects instead of days spent with textbooks. I told myself this is the place I want to be,' he said Wednesday night. 'And what I like the most about (the program) is that is has helped me so much. I stopped getting into trouble, I got my GPA up and I'm always getting my work done on time.' One of the major resources that PCAP offers is its community partnerships that allow scholars to go into local businesses and participate in workplace challenges. Local business leaders will give the scholars a very real problem in the workplace that the scholars must then solve and present their solution to those leaders. They've even had opportunities to work with Mayor Chris Martin and Deputy Mayor Jacob Pomasl. Local business leaders will also provide feedback to the students based on classroom project presentations. Werner praised the partners for their commitment to the students. '(They are there) helping these kids become good humans and pouring into them and giving them the direction they need to be successful,' she said. The Academy will host its third commencement ceremony at McHale beginning at 6.p.m. on Thursday, March 22.
Express Tribune
29-03-2025
- Business
- Express Tribune
World Bank gives $300m to improve air quality
Listen to article The World Bank has approved a $300 million, or Rs84 billion, loan for the government of Punjab to help it improve air quality by replacing fossil fuel-driven buses and trucks, and reducing straw burning in farms, which will mitigate smog in Indian and Pakistani cities. The lending has been approved by the board of the World Bank under the Punjab Clean Air Programme (PCAP) to strengthen air quality management and combat air pollution, according to a statement from the Washington-based lender. The PCAP will support the government of Punjab's Smog Mitigation Action Plan (SMAP) by tackling the pressing issue of smog and air pollution with the launch of several comprehensive initiatives aimed at improving air quality and public health, particularly in key sectors such as transport, agriculture, industry, energy and municipal services, it said. The loan will be utilised to reduce particulate matter below 2.5 micron (PM2.5) concentration in greater Lahore and to also reduce the trans-boundary impact on PM2.5 concentration in India, according to the World Bank. Pakistan and India can cooperate in climate management, however, the relations remain tense after the unilateral change in the status of Jammu & Kashmir by India in violation of the United Nations Security Council resolutions. The programme supports the province's smog mitigation plan and is a landmark initiative to significantly improve air quality and enhance the health and well-being of millions of residents, said Najy Benhassine, World Bank Country Director for Pakistan. He said that cleaner air would reduce respiratory and cardiovascular diseases and contribute to a healthier, more livable environment. The loan is aimed at reducing PM2.5 levels by 35% over the next decade, significantly decreasing respiratory illnesses and other pollution-related health issues for the 13 million residents of Lahore Division. The programme focuses on the continuation of strengthening air quality management (AQM) infrastructure, enhancing regulatory and institutional capacity, targeted sectoral abatement measures and promoting public awareness. Key interventions include investment of 5,000 super seeders to reduce the main issue of excessive seasonal fog – crop residue burning, the introduction of 600 electric buses to foster a modal shift to public transport, the expansion of regulatory-grade air quality monitoring stations across Punjab, and the enhancement of fuel quality testing through the establishment of two new fuel testing laboratories, according to the lender. The programme will be organised along three result areas – air quality management governance and awareness raising, transport sector abatement measures, and agriculture sector abatement measures. World Bank documents state that major sectors responsible for air pollution in Punjab include industrial boilers operating on solid fuel, typically coal, without air pollution control technologies, power plants, brick kilns and steel melting and re-rolling mills. In the transport sector, trucks and buses, two- and three-wheelers, and cars are the main contributors to PM2.5. In the agriculture sector, farmers burn straw and stubble on fields with citizens in cities such as Lahore affected by resulting smoke drifts. Domestic cooking is said to be the major source of smog in Punjab. The 2022 Country Climate and Development Report (CCDR) highlights Pakistan's severe climate vulnerability, ranking it among the top 10 most affected countries. Frequent droughts, floods, heat waves, and risks to coastal cities like Karachi from sea level rise and erosion increase development challenges and could reduce GDP by 18-20% annually by 2050. In Pakistan, Bangladesh, India, and Nepal, between 93% and 97% of the population are exposed to hazardous air pollution. Fine particulate matter below 2.5 microns (PM2.5) can be inhaled through the lungs and is the most significant contributor to the public health burden associated with air pollution. Ambient PM2.5 concentrations in Punjab range widely, with 24-hour averages over 300-400 µg/m3 observed in Lahore during acute episodes. Annual average concentrations of 110-130 µg/m3 have been measured in central Lahore. The World Bank said that residential cooking is the highest sectoral contributor to ambient air pollution. Traditional cook stoves, which cause both household and ambient air pollution, need to be progressively replaced, it added. Road transport is the second highest sectoral contributor to air pollution, with emissions set to increase without concerted action. Out of the $300 million, $245 million will be used for transport sector abatement measures by expanding mass transit and off-roading aged, polluting vehicles. This is to incentivise the deployment of around 400 electric buses in Lahore, and supporting infrastructure like depots, charging facilities, bus stops and street improvements. Some $20 million will be spent to incentivise abatement measures in the agriculture sector.
Express Tribune
29-03-2025
- Business
- Express Tribune
World Bank approves $300m loan to tackle Punjab's air pollution crisis
A thick layer of smog dampens the beauty of the iconic Badshahi Mosque in Lahore. Photo: NNI Listen to article The World Bank has approved a $300 million loan to support Punjab's Clean Air Program (PCAP). This initiative aims to reduce pollution and improve public health. The funding will help tackle the growing air pollution crisis, particularly in Lahore. The program aligns with the provincial government's Smog Mitigation Action Plan (SMAP). Punjab faces severe air pollution, with Lahore regularly ranking among the most polluted cities. Vehicle emissions, industrial pollution, and crop residue burning are the primary causes of smog. These pollutants have led to rising health problems, including respiratory and cardiovascular diseases. The PCAP aims to reduce PM2.5 levels by 35% over the next decade, benefiting millions of residents. The program includes modernizing agriculture, launching electric buses, and enhancing air quality monitoring. It will introduce 5,000 super seeders to curb crop burning, install 600 electric buses, and add air quality stations. Fuel quality will also be improved with new testing laboratories. Public awareness campaigns will educate citizens about pollution's health risks, focusing on vulnerable groups like schoolchildren and patients. Beyond cleaner air, the program will reduce greenhouse gas emissions and create jobs in the electric vehicle sector. It will also support farmers and help them transition to modern, eco-friendly practices. With this initiative, Pakistan is taking a crucial step toward a healthier and more sustainable future.
