Lineage Point Capital LP Buys New Position in BTC Development Corp. $BDCI

Lineage Point Capital LP purchased a new stake in BTC Development Corp. (NASDAQ:BDCI) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 200,000 shares of the company’s stock, valued at approximately $2,002,000.

Several other institutional investors have also added to or reduced their stakes in BDCI. ABC Arbitrage SA purchased a new stake in shares of BTC Development during the fourth quarter worth about $200,000. Picton Mahoney Asset Management acquired a new stake in BTC Development in the 4th quarter worth approximately $200,000. Crossingbridge Advisors LLC acquired a new stake in BTC Development in the 4th quarter worth approximately $250,000. Boothbay Fund Management LLC purchased a new stake in BTC Development during the 4th quarter worth approximately $350,000. Finally, StoneX Group Inc. purchased a new stake in BTC Development during the 4th quarter worth approximately $526,000.

BTC Development Price Performance

Shares of BTC Development stock opened at $10.07 on Friday. BTC Development Corp. has a 12-month low of $9.96 and a 12-month high of $10.26. The firm has a market cap of $305.50 million and a price-to-earnings ratio of 40.26. The company’s 50 day moving average is $10.03.

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