Fifth Lane Capital LP Invests $2.28 Million in BTC Development Corp. $BDCI

Fifth Lane Capital LP acquired a new stake in BTC Development Corp. (NASDAQ:BDCI) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 225,000 shares of the company’s stock, valued at approximately $2,284,000. BTC Development accounts for 1.7% of Fifth Lane Capital LP’s investment portfolio, making the stock its 12th largest holding.

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

BTC Development Price Performance

Shares of BDCI opened at $10.05 on Friday. BTC Development Corp. has a twelve month low of $9.96 and a twelve month high of $10.26. The stock has a market cap of $304.99 million and a price-to-earnings ratio of 40.20. The business has a fifty day moving average price of $10.02.

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

BTC Development Company 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.