BTC Development Corp. completes $253 million IPO on NASDAQ

BTC Development Corp. (NASDAQ: BDCIU) completed its initial public offering of 25.3 million units priced at $10.00 per unit, generating gross proceeds of $253 million. The offering included 3.3 million units issued through the underwriters' full exercise of their over-allotment option.

The company's units began trading on the NASDAQ Global Market on September 30, 2025, under the ticker symbol "BDCIU." Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant. Each whole warrant allows the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share.

Once separate trading begins, the Class A ordinary shares and warrants will be listed on NASDAQ under the symbols "BDCI" and "BDCIW," respectively. The company placed $253 million from the offering proceeds into a trust account for the benefit of public shareholders.

BTC Development Corp. is a blank check company formed to complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company may pursue acquisition opportunities in any business or industry, though it plans to focus on companies in the bitcoin ecosystem or those with potential to integrate bitcoin into their operations.

The management team includes Bracebridge H. Young, Jr. as President and Chief Executive Officer, Betsy Z. Cohen as Chairman of the Board of Directors, and Jonathan Kirkwood as Vice-Chairman of the Board of Directors.

Cohen & Company Capital Markets and Keefe, Bruyette & Woods served as joint book-running managers for the offering. The Securities and Exchange Commission declared the registration statement effective on September 29, 2025.

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