PHILADELPHIA, PA — BTC Development Corp. (NASDAQ: BDCIU) announced the closing of its initial public offering on Friday, raising $253 million through the sale of 25,300,000 units, including 3,300,000 units issued as part of the underwriters’ full exercise of their over-allotment option. The units were priced at $10.00 each.
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 a redeemable warrant. Once separate trading begins, the Class A shares and warrants are expected to trade under “BDCI” and “BDCIW,” respectively.
All $253 million in proceeds, including funds from a simultaneous private placement, were placed in a trust account for the benefit of public shareholders.
BTC Development Corp., a blank check company, was formed to pursue mergers, acquisitions, or similar business combinations, with a focus on opportunities tied to the bitcoin ecosystem. The management team is led by President and CEO Bracebridge H. Young, Jr., Chairman Betsy Z. Cohen, and Vice Chairman Jonathan Kirkwood.
Cohen & Company Capital Markets and Keefe, Bruyette & Woods, a Stifel Company, served as joint book-running managers for the offering.
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