Highbridge Capital Management LLC Acquires Shares of 300,000 BTC Development Corp. $BDCI

Highbridge Capital Management LLC acquired a new stake in shares of BTC Development Corp. (NASDAQ:BDCI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 300,000 shares of the company’s stock, valued at approximately $3,004,000. Highbridge Capital Management LLC owned approximately 0.99% of BTC Development at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BDCI. Periscope Capital Inc. purchased a new stake in BTC Development during the 4th quarter valued at approximately $4,943,000. Wealthspring Capital LLC purchased a new stake in BTC Development during the 4th quarter valued at approximately $3,346,000. Finally, ABC Arbitrage SA purchased a new stake in BTC Development during the 4th quarter valued at approximately $200,000.

BTC Development Stock Performance

Shares of BDCI opened at $10.06 on Friday. BTC Development Corp. has a 1 year low of $9.96 and a 1 year high of $10.26. The firm’s 50 day moving average is $10.02. The stock has a market cap of $305.17 million and a price-to-earnings ratio of 40.22.

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

About BTC Development

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.