Radcliffe Capital Management L.P. Invests $5.82 Million in BTC Development Corp. $BDCI

Radcliffe Capital Management L.P. acquired a new stake in BTC Development Corp. (NASDAQ:BDCI) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 581,316 shares of the company’s stock, valued at approximately $5,819,000.

Several other hedge funds have also recently added to or reduced their stakes in BDCI. ABC Arbitrage SA acquired a new position in shares of BTC Development during the 4th quarter worth about $200,000. Wealthspring Capital LLC bought a new position in BTC Development during the 4th quarter worth approximately $3,346,000. Periscope Capital Inc. acquired a new position in BTC Development during the fourth quarter valued at approximately $4,943,000. Highbridge Capital Management LLC bought a new stake in shares of BTC Development in the 4th quarter valued at $3,004,000. Finally, Picton Mahoney Asset Management acquired a new stake in BTC Development during the 4th quarter worth $200,000.

BTC Development Trading Up 0.1%

BDCI stock opened at $10.06 on Wednesday. BTC Development Corp. has a 1-year low of $9.96 and a 1-year high of $10.26. The company has a market capitalization of $305.32 million and a price-to-earnings ratio of 40.24. The business’s 50-day simple moving average is $10.03.

BTC Development (NASDAQ:BDCI) last announced 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.