Meteora Capital files 13G/A; BDCI shows 7.52% holding (BDCI)

Rhea-AI Filing Summary

BTC Development Corp. reports that Meteora Capital, LLC and Vik Mittal together beneficially own 1,959,275 shares of Class A Common Stock, representing 7.52% of the class. The filing attributes shared voting and shared dispositive power over these shares to the reporting persons.

Insights

Institutional Ownership Analyst

Meteora Capital discloses a meaningful passive stake of 7.52% in BTC Development.

The filing shows 1,959,275 shares held by funds managed by Meteora Capital with shared voting and dispositive power. This is a disclosure of beneficial ownership under Schedule 13G/A rather than an active transaction.

Holder intentions, voting agreements, and any changes in position are not stated; subsequent filings would reveal shifts or plans.

Governance & Compliance Advisor

Schedule 13G/A reporting signals passive investor status but records shared control.

The statement names Meteora Capital and Vik Mittal as reporting persons and notes shared voting/dispositive power for 1,959,275 shares. The filing includes the issuer address and CUSIP G0701G109.

Compliance appears standard; watch for any future amendments that change percent ownership or voting designation.

Key Figures

Beneficial ownership: 1,959,275 shares Percent of class: 7.52% CUSIP: G0701G109

3 metrics

Beneficial ownership 1,959,275 shares Class A Common Stock

Percent of class 7.52% Percent of Class A Common Stock

CUSIP G0701G109 Identifier for Class A Common Stock

Key Terms

Schedule 13G/A, Beneficially owned, Shared dispositive power

3 terms

Schedule 13G/A regulatory

"Name of form and filing type indicating passive beneficial ownership reporting"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned regulatory

"Amount beneficially owned: 1959275"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared dispositive power regulatory

"Shared Dispositive Power 1,959,275.00"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

BTC Development Corp.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

G0701G109

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G0701G109

1

Names of Reporting Persons

Meteora Capital, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,959,275.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,959,275.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,959,275.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.52 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BTC Development Corp.
(b)	Address of issuer's principal executive offices: 2929 Arch Street, Suite 1703, Philadelphia, PA, 19104
Item 2.
(a)	Name of person filing: (i) Meteora Capital, LLC, a Delaware limited liability company ("Meteora Capital") with respect to the Common Stock (as defined in Item 2(d)) held by certain funds and managed accounts to which Meteora Capital serves as investment manager (collectively, the "Meteora Funds"); and (ii) Vik Mittal, who serves as the Managing Member of Meteora Capital, with respect to the Common Stock held by the Meteora Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The address of the principal business office for each of the Reporting Persons is: 1200 N Federal Hwy, #200, Boca Raton FL 33432
(c)	Citizenship: Meteora Capital is a Delaware limited liability company. Vik Mittal is a United States citizen.
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: G0701G109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1959275
(b)	Percent of class: 7.52 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1959275
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1959275
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Meteora Capital, LLC

Signature:	Vik Mittal
Name/Title:	Mr
Date:	05/15/2026

FAQ

What stake does Meteora Capital report in BTC Development (BDCI)?

Meteora Capital reports beneficial ownership of 1,959,275 shares of Class A Common Stock, equal to 7.52% of the class, as shown in the Schedule 13G/A disclosure.

Who is listed as the reporting person on the Schedule 13G/A for BDCI?

Meteora Capital, LLC is the reporting investment manager and Vik Mittal is named as the managing member; both are listed as the Reporting Persons on the filing.

What voting and dispositive powers are reported for the 1,959,275 shares?

The filing states shared voting power of 1,959,275 shares and shared dispositive power of 1,959,275; sole powers are reported as 0.

What is the CUSIP and class of security reported in the filing?

The Schedule 13G/A identifies the security as Class A Common Stock with CUSIP G0701G109 for BTC Development Corp.

Does the filing state Meteora Capital is the beneficial owner for Section 13 purposes?

The filing expressly says the statement "should not be construed as an admission" that any Reporting Person is the beneficial owner for Section 13 purposes; it therefore disclaims that legal conclusion.