Company: BDCIU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109324
Chunk: 1

Company: BTC Development Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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,751) 
     (51,644)
  
    Total Liabilities and Shareholders’ Deficit 
    $5,657,308  
    $329,930 

  (1) Includes an aggregate of up to 1,100,000 Class B ordinary shares subject to forfeiture by the holders thereof depending on the extent to which the underwriters’ over-allotment option was exercised (Note 5). On October 1, 2025, the Company consummated its Initial Public Offering and sold 25,300,000 Units, including 3,300,000 Units sold pursuant to the full exercise of the underwriters’ option to purchase additional units to cover the over-allotment, hence the 1,100,000 shares of Class B ordinary shares were no longer subject to forfeiture. 

The accompanying notes are an integral part of
the unaudited condensed financial statements.

1

BTC DEVELOPMENT CORP.

CONDENSED STATEMENTS OF OPERATIONS

(UNAUDITED)

    Three Months Ended September 30,  
2025(1)  
    Three Months Ended September 30,
 2024  
    Nine Months Ended September 30,  
2025(1)  
    Nine Months Ended September 30,
 2024 
  
    Formation, general and administrative costs 
    $58,813  
    $492  
    $98,107  
    $492 

    Net loss 
    $(58,813) 
    $(492) 
    $(98,107) 
    $(492)

    Weighted average shares Class B outstanding, basic and diluted 
     4,168,499  
     1  
     1,394,609  
     1 
  
    Basic and diluted net loss per Class B ordinary share 
    $(0.01) 
    $(492) 
    $(0.07) 
    $(492)

  (1) Excludes an aggregate of up to 1,100,000 Class B ordinary shares subject to forfeiture by the holders thereof depending on the extent to which the underwriters’ over-allotment option was exercised (Note 5). On October 1, 2025, the Company consummated its Initial Public Offering and sold 25,300,000 Units, including 3,300,000 Units sold pursuant to the full exercise of the underwriters’ option to purchase additional units to cover