Company: BDCIU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109324
Chunk: 0

Company: BTC Development Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 0
---
Item 1. Interim Financial Statements.

BTC DEVELOPMENT CORP.

CONDENSED BALANCE SHEETS

    September 30, 2025  
    December 31, 2024 

    (Unaudited)  

    Assets: 

    Current Assets: 

    Cash 
    $2,886,023  
    $— 
  
    Total Current Assets 
     2,886,023  
     — 

    Deferred offering costs 
     771,285  
     329,930 
  
    Cash held in Trust Account 
     2,000,000  
     — 
  
    Total Assets 
    $5,657,308  
    $329,930 

    Liabilities and Shareholders’ Deficit: 

    Current Liabilities: 

    Accrued offering costs 
    $543,486  
    $305,507 
  
    Accrued expenses 
     38,573  
     27,680 
  
    Advance from related party 
     —  
     48,387 
  
    Due to Sponsor 
     5,200,000  
     — 
  
    Total Liabilities 
     5,782,059  
     381,574 

    Commitments and Contingencies (see Note 6) 

    Shareholders’ Deficit 

    Preference shares, $0.0001 par value; 1,000,000 shares authorized; none issued or outstanding 
     —  
     — 
  
    Class A ordinary shares, $0.0001 par value; 200,000,000 shares authorized; none issued or outstanding as of September 30, 2025 and December 31, 2024 
     —  
     — 
  
    Class B ordinary shares, $0.0001 par value; 20,000,000 shares authorized; 8,686,667 shares and 1 share issued and outstanding as of September 30, 2025 and December 31, 2024, respectively(1) 
     869  
     — 
  
    Additional paid-in capital 
     24,131  
     — 
  
    Accumulated deficit 
     (149,751) 
     (51,644)
  
    Total Shareholders’ Deficit 
     (124