Every 10-Q that BTC Development Corp. Unit (BDCIU) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BDCIU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BDCIU filings page.
BTC Development Corp., a Cayman Islands blank check company, reported June 30, 2026 results reflecting its pre‑combination status. Total assets were $260.9 million, including $259.5 million of marketable securities in a U.S. Treasury–invested Trust Account and $1.1 million of cash outside the trust.
For the three and six months ended June 30, 2026, the company recorded net income of $1.9 million and $3.6 million, driven by $2.3 million and $4.5 million of interest on Trust Account assets, partially offset by $0.4 million and $0.9 million of formation, general and administrative costs. Class A ordinary shares subject to possible redemption totaled 25,300,000 at an aggregate redemption value of $259.5 million, resulting in a shareholders’ deficit of $9.6 million.
The company had cash of $1.1 million and a working capital surplus of $1.2 million and has not yet identified or completed a business combination. Management disclosed that limited liquidity and dependence on additional financing raise substantial doubt about its ability to continue as a going concern, and it intends to complete a qualifying business combination within the defined Combination Period.
BTC Development Corp. reported its first full quarter as a SPAC for the period ended March 31, 2026, showing net income of $1,701,548 driven entirely by interest on IPO proceeds held in trust.
The company earned interest income of $2,242,309 on marketable securities in its Trust Account, which held $257,254,864 at quarter-end, while incurring formation, general and administrative costs of $540,761. Cash outside the Trust Account was $1,448,349, supporting a working capital surplus of $1,590,288. BTC Development has not begun operating a business and continues to search for a Business Combination, with 25,300,000 Class A shares classified as redeemable at a redemption value of $10.17 per share.
BTC Development Corp. filed its quarterly report, showing limited operating activity as a newly public blank-check company preparing for its Initial Public Offering. For the quarter ended September 30, 2025, the company reported a net loss of $58,813, driven by formation, general and administrative costs. Cash was $2,886,023 and cash held in a preliminary trust account was $2,000,000 as of quarter-end.
After the quarter, the company completed its IPO on October 1, 2025, selling 25,300,000 units at $10.00 each, including the full over‑allotment, for $253,000,000 in gross proceeds, and a concurrent private placement of 760,000 placement units for $7,600,000. Transaction costs totaled $16,037,284, including $4,400,000 cash underwriting fees and $10,780,000 deferred underwriting fees. $253,000,000 was placed in the Trust Account at closing.
Each unit includes one Class A ordinary share and one‑fourth of a redeemable warrant, with whole warrants exercisable at $11.50 per share. The company has up to 24 months from the IPO closing (or 27 months with a signed definitive agreement) to complete a business combination. As of November 12, 2025, Class A shares outstanding were 26,060,000 and Class B were 8,686,667.