BTC Development Corp. Completes $253 Million Initial Public Offering

Core Points - BTC Development Corp. successfully closed its initial public offering (IPO) of 25,300,000 units, generating gross proceeds of $253 million at a price of $10.00 per unit [1][3] - The units began trading on the Nasdaq Global Market under the ticker symbol "BDCIU" on September 30, 2025, with each unit comprising one Class A ordinary share and one-fourth of a redeemable warrant [2] - The company is a blank check entity aimed at pursuing mergers and acquisitions, particularly focusing on opportunities within the bitcoin ecosystem [4] Financial Details - The IPO included the full exercise of the underwriters' over-allotment option, which accounted for 3,300,000 units [1] - The proceeds from the IPO are placed in a trust account for the benefit of public shareholders [3] Company Structure and Management - The management team is led by Bracebridge H. Young, Jr. (President and CEO), Betsy Z. Cohen (Chairman), and Jonathan Kirkwood (Vice-Chairman) [4] - The company intends to identify and acquire businesses that can integrate bitcoin into their operations, focusing on attractive risk-adjusted returns [4] Underwriters - Cohen & Company Capital Markets and Keefe, Bruyette & Woods served as the joint book-running managers for the offering [5]