BTC Development Corp. closes $253M SPAC IPO, placing full proceeds in trust

BTC Development Corp.

Sold 25,300,000 units at $10.00 each including full over-allotment; gross proceeds $253 million.
Simultaneous private placement of 760,000 units at $10.00 per unit raised $7.6 million from sponsors and underwriters.
$253 million placed in trust account with Continental Stock Transfer & Trust; $2.67 million cash outside trust for working capital.
Company has 24 months (or 27 if definitive agreement signed) to complete a business combination.
Shareholders' deficit of $8.56 million; 25.3M public shares subject to possible redemption at $10.00 per share.

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