Meteora Capital discloses 7.0294% BTC Development stake (BDCI)

Rhea-AI Filing Summary

Meteora Capital, LLC, together with its managing member Vik Mittal, reported beneficial ownership of Class A Common Stock of BTC Development Corp.7.0294% of the class.

All 1,831,855 shares are reported with shared voting and shared dispositive power, with no sole voting or dispositive authority. The shares are held by funds and managed accounts for which Meteora Capital serves as investment manager, and the filing states they were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of BTC Development Corp.

02/13/2026 - 02:29 PM

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

BTC Development Corp.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

G0701G109

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 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 1,831,855.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,831,855.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,831,855.00

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)

7.0294 %

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: 1831855
(b)	Percent of class: 7.0294 %
(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: 1831855
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1831855
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:	02/13/2026

FAQ

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

Meteora Capital reports beneficial ownership of 1,831,855 shares of BTC Development Corp. Class A Common Stock, representing 7.0294% of the class. This reflects a significant institutional position, triggering the obligation to file a Schedule 13G ownership report.

Who are the reporting persons on this BTC Development Corp. (BDCI) Schedule 13G?

The reporting persons are Meteora Capital, LLC and Vik Mittal, its Managing Member. Meteora Capital serves as investment manager to certain funds and managed accounts holding the BTC Development Corp. shares referenced in the filing, collectively described as the Meteora Funds.

How much voting and dispositive power does Meteora Capital have over BDCI shares?

The filing states 0 shares with sole voting or sole dispositive power and 1,831,855 shares with shared voting and shared dispositive power. This means control over these BTC Development Corp. shares is held on a shared, not exclusive, basis.

Is Meteora Capital’s BTC Development Corp. (BDCI) position a control investment?

The filing certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of BTC Development Corp., indicating a passive investment intent under the Schedule 13G framework.

On what date did Meteora Capital’s ownership in BTC Development Corp. (BDCI) trigger this filing?

The Schedule 13G identifies 12/31/2025 as the date of the event requiring the filing. That date is used as the reference point for the reported 1,831,855 shares and the corresponding 7.0294% beneficial ownership percentage.

Where are BTC Development Corp. (BDCI) and Meteora Capital based?

BTC Development Corp.’s principal executive offices are at 2929 Arch Street, Suite 1703, Philadelphia, PA 19104. The reporting persons’ principal business office is listed as 1200 N Federal Hwy, #200, Boca Raton, FL 33432 in the ownership statement.