Company: BDCIU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109324
Chunk: 4

Company: BTC Development Corp.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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 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.

3

BTC DEVELOPMENT CORP.

CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

    Nine Months Ended September 30,  
    Nine Months Ended September 30, 

    2025  
    2024 
  
    Cash Flows from Operating Activities: 

    Net loss 
    $(98,107) 
    $(492)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Payment of formation, general and administrative expenses through advances from related party 
     59,534  
     492 
  
    Payment of accrued expenses through advances from related party 
     27,680  
     — 
  
    Changes in operating assets and liabilities: 

    Accrued expenses 
     10,893  
     — 
  
    Net cash used in operating activities 
     —  
     — 

    Cash Flows from Investing Activities: 

    Investment of cash into Trust Account 
     (2,000,000) 
     — 
  
    Net cash used in investing activities 
     (2,000,000) 
     — 

    Cash Flows from Financing Activities: 

    Repayment of advances from related party 
     (238,977) 
     — 
  
    Proceeds due to Sponsor 
     5,200,000  
     — 
  
    Payment of offering costs 
     (75,000) 
     — 
  
    Net cash provided by financing activities 
     4,886,023  
     — 

    Net Change in Cash 
     2,886,023  
     — 
  
    Cash – Beginning of period 
     —  
     — 
  
    Cash – End of period 
    $2,886,023  
    $— 

    Supplemental disclosure of cash flow information: 

    Deferred offering costs included in accrued offering costs 
    $250,486  
    $306 
  
    Deferred/accru