Company: BDCIU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109324
Chunk: 8

Company: BTC Development Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 the approval of an ordinary resolution under Cayman Islands law,
being the affirmative vote of the holders of a majority of the issued ordinary shares who, being present and entitled to vote at a general
meeting of the Company, vote at a general meeting of the Company. If a shareholder vote is not required by applicable law or stock exchange
listing requirements and the Company does not decide to hold a shareholder vote for business or other reasons, the Company will, pursuant
to its Amended and Restated Memorandum and Articles of Association, conduct the redemptions pursuant to the tender offer rules of the
U.S. Securities and Exchange Commission (the “SEC”) and file tender offer documents with the SEC prior to completing
a Business Combination. If, however, shareholder approval of the transactions is required by applicable law or stock exchange listing
requirements, or the Company decides to obtain shareholder approval for business or other reasons, the Company will offer to redeem shares
in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks
shareholder approval in connection with a Business Combination, the sponsors have agreed to vote any Founder Shares (as defined in Note 5),
Placement Shares (as defined in Note 4) and Public Shares held by it in favor of approving a Business Combination. Additionally,
each Public Shareholder may elect to redeem their Public Shares, without voting, and if they do vote, irrespective of whether they vote
for or against a proposed Business Combination or if they vote at all.

Notwithstanding the foregoing,
if the Company seeks shareholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules,
the Company’s Amended and Restated Memorandum and Articles of Association provides that a Public Shareholder, together with any
affiliate of such shareholder or any other person with whom such shareholder is acting in concert or as a “group” (as defined
under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be
restricted from redeeming its shares with respect to more than an aggregate of 15% of the Public Shares without the prior consent of the
Company. The Company may waive this restriction in its sole discretion.

The sponsors, officers and
directors have agreed to waive (i) their redemption rights with respect to any Founder Shares and Placement Shares held by them in
connection with the completion of the Company’s Business Combination and (ii)