secwatch.observer — SEC 8-K summary
======================================

Issuer:     BTC Development Corp. (BDCI)
CIK:        0002042292
Form:       8-K
Filed at:   2025-10-07T23:59:59+00:00
Accession:  0001213900-25-097023
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2042292/000121390025097023/0001213900-25-097023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2042292/000121390025097023/ea0260340-8k_btcdevelop.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-097023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer