Wealthspring Capital LLC Takes $3.35 Million Position in BTC Development Corp. $BDCI

Wealthspring Capital LLC acquired a new stake in BTC Development Corp. (NASDAQ:BDCI) during the 4th quarter, Holdings Channel.com reports. The fund acquired 334,252 shares of the company’s stock, valued at approximately $3,346,000.

Separately, ABC Arbitrage SA bought a new position in shares of BTC Development in the fourth quarter valued at about $200,000.

BTC Development Price Performance

BDCI stock opened at $10.03 on Thursday. The company has a 50-day simple moving average of $10.00. BTC Development Corp. has a 52 week low of $9.96 and a 52 week high of $10.26. The firm has a market capitalization of $304.23 million and a P/E ratio of 50.13.

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