Morgan Lewis Advises on BTC Development Corp.’s $253 Million Initial Public Offering
October 03, 2025NEW YORK, October 3, 2025: Morgan Lewis represented BTC Development Corp. in its initial public offering of 25,300,000 units at $10.00 per unit (which included 3,300,000 units issued pursuant to the underwriters’ full exercise of their overallotment option), for aggregate gross proceeds of $253 million. Each unit consists of one Class A ordinary share and one-quarter of one redeemable warrant (each full warrant exercisable for one Class A ordinary share at an exercise price of $11.50). The units trade on the Nasdaq Global Market under the symbol “BDCIU.”
BTC Development Corp. is a blank check company focused on pursuing business combinations in the bitcoin ecosystem, including opportunities to integrate bitcoin into capital structures, balance sheets, and operations.
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, and Keefe, Bruyette & Woods, a Stifel company, acted as joint bookrunning managers for the offering.
Partners Rahul Patel, Kevin Shmelzer, and Todd Hentges and associates David Bionghi and Okeya Smith, along with partners Richard Zarin and Chuck Bogle, advised BTC Development.