Company: BDCIU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109324
Chunk: 111

Company: BTC Development Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 3
Chunk 111
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)(2) of the
Securities Act.

The Placement Units are identical to the Units
sold in the Initial Public Offering, except that the Placement Units are not transferable, assignable or salable until after the completion
of a Business Combination, subject to certain limited exceptions.

Of the gross proceeds received from the Initial
Public Offering and the sale of the Placement Units, an aggregate of $253,000,000 was placed in the Trust Account.

We paid a total of $16,037,284 in transaction
costs, consisting of $4,400,000 of cash underwriting fee, $10,780,000 of deferred underwriting fee, and $857,284 of other offering costs.

For a description of the use of the proceeds generated
in our Initial Public Offering, see Part I, Item 2 of this Form 10-Q.

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

None

Item 5. Other Information

None

18

Item 6. Exhibits

The following exhibits are filed as part of, or
incorporated by reference into, this Quarterly Report on Form 10-Q.

    No.
     
    Description of Exhibit
  
    1.1
     
    Underwriting Agreement, dated September 29, 2025, among the Company, Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC and Keefe, Bruyette & Woods, Inc. (incorporated by reference to Exhibit 1.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 3, 2025).
  
    3.1
     
    Amended and Restated Memorandum and Articles of Association, filed with the Cayman Islands General Registry on September 29, 2025 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 3, 2025).
  
    4.1
     
    Warrant Agreement, dated September 29, 2025, between the Company and Continental Stock Transfer & Trust Company (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 3, 2025).
  
    10.1
     
    Letter Agreement, dated September 29, 2025, by and among the Company