Company: BDCIU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109324
Chunk: 21

Company: BTC Development Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 Telecommunication payment system. Certain countries,
including the United States, have also provided and may continue to provide military aid or other assistance to Ukraine and to Israel,
increasing geopolitical tensions among a number of nations. The invasion of Ukraine by Russia and the Israel-Hamas conflict and the resulting
measures that have been taken, and could be taken in the future, by NATO, the United States, the United Kingdom, the European Union,
Israel and its neighboring states and other countries have created global security concerns that could have a lasting impact on regional
and global economies. Although the length and impact of the ongoing conflicts are highly unpredictable, they could lead to market disruptions,
including significant volatility in commodity prices, credit and capital markets, as well as supply chain interruptions and increased
cyberattacks against U.S. companies. Additionally, any resulting sanctions could adversely affect the global economy and financial
markets and lead to instability and lack of liquidity in capital markets.

Any of the above mentioned
factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian
invasion of Ukraine, the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the Company’s
search for an initial Business Combination and any target business with which the Company may ultimately consummate an initial Business
Combination.

Registration Rights

The holders of the Founder
Shares, Placement Units (including securities contained therein) and units (including securities contained therein) that may be issued
upon conversion of Working Capital Loans, and any Class A ordinary shares issuable upon the exercise of the Placement Warrants and
any Class A ordinary shares and warrants (and underlying Class A ordinary shares) that may be issued upon conversion of the
units issued as part of the Working Capital Loans and Class A ordinary shares issuable upon conversion of the Founder Shares, are
entitled to registration rights pursuant to a registration rights agreement signed on September 29, 2025, requiring the Company to register
such securities for resale (in the case of the Founder Shares, only after conversion to the Class A ordinary shares). These holders
will be entitled to make up to three demands, excluding short form registration demands, that the Company register such securities for
sale under the Securities Act. In addition, these holders will have “piggyback” registration rights to include such securities
in other registration statements filed by the Company and rights to require the Company to register for resale such securities pursuant
to Rule