Lineage Point Capital LP Takes $2 Million Position in BTC Development Corp. $BDCI

Lineage Point Capital LP purchased a new position in BTC Development Corp. (NASDAQ:BDCI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 200,000 shares of the company’s stock, valued at approximately $2,002,000. Lineage Point Capital LP owned approximately 0.66% of BTC Development at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ABC Arbitrage SA purchased a new position in BTC Development in the fourth quarter valued at about $200,000. Wealthspring Capital LLC purchased a new stake in shares of BTC Development during the fourth quarter valued at about $3,346,000. Periscope Capital Inc. purchased a new stake in shares of BTC Development during the fourth quarter valued at about $4,943,000. Highbridge Capital Management LLC bought a new stake in shares of BTC Development in the 4th quarter valued at about $3,004,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of BTC Development in the 4th quarter valued at about $200,000.

BTC Development Stock Performance

Shares of BTC Development stock opened at $10.07 on Friday. The stock has a market cap of $305.50 million and a P/E ratio of 40.26. The stock has a 50 day moving average price of $10.03. BTC Development Corp. has a 52-week low of $9.96 and a 52-week high of $10.26.

BTC Development (NASDAQ:BDCI) last posted its earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter.

BTC Development Profile

We are a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination involving one or more businesses or assets, which we refer to throughout this prospectus as our initial business combination. To date, our efforts have been limited to organizational activities as well as activities related to this offering. We have not identified any acquisition target and we have not, nor has anyone on our behalf, initiated any discussions, directly or indirectly, with respect to identifying any acquisition target.