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BDCI

BTC Development Corp.

Pulse

→Faint

0–100 vitality — and a read on how the book feels about this shell.

% done

Path to close

Price

$10.12

Mkt 351.64M

What is Pulse?

SPAC Pulse measures the current vitality of a deal on a 0–100 scale. A new IPO starts near 50 — a healthy heart with room both ways. It is not weakening just because nothing has printed yet. Weakening is a tag for a slowing beat (stalling cadence), not a quiet shell. 10-Q / 10-K on time is a good beat; an NT is a deficiency. File the report late, then file the NT late, and Pulse falls — that is how public investors read whether management is on top of the shell. Filing recovers some of it. It never pretends the miss did not happen. When other new IPOs file that window on time, they are no longer equal — those shells are healthier. High readings mean the deal book is accelerating; low readings flag life-support risk. Full methodology lives on the desk.

Rate + Lead II · 25 mm/s

Pulse Timeline

Top trace is the Pulse rate. Bottom is the filing lead — R-wave when the rate lifts, QS when it slows. Height is the change.

09-30 IPO
11-12 10-Q
03-24 10-K
05-12 10-Q
08-10 10-Q
10-07 Now

Auto interpretation · Lead II printoutNormal sinus rhythmPulse 41

Regular beats, no life-support flag. Read the marks below for what moved it.

Silent —Beats/90d 0Recent gap —

Marks on this strip

09-3052IPO. New heart. Baseline, room both ways.
11-1251 ↓110-Q. Periodic report. Pulse -1 — calendar, not the S-4.
03-2450 ↓110-K. Periodic report. Pulse -1 — calendar, not the S-4.
05-1249 ↓110-Q. Periodic report. Pulse -1 — calendar, not the S-4.
08-1048 ↓110-Q. Periodic report. Pulse -1 — calendar, not the S-4.
10-0741 ↓7Now. No new filing. Pulse drifted -7.

Impression: last filing printed 48. Live Pulse is 41. No new filing. Pulse drifted -7.

Unconfirmed machine read · not medical advice · not financial advice

Historical context

Listed shell in the archive

Precedent from 44 names in the Pulse archive (closed, liquidated, and broken deals). Archive base rate is one input; live beat speed then moves Pulse. Not a forecast.

Close rate: 80%
Median days left: 335
Archive n: 44

Status

Listed

Exchange

Nasdaq

Rights

Warrants

Listed

CIK

0002042292

IPO date

2025-09-30

Market cap

351.64M

Days to deadline

—

SEC tickers

BDCI, BDCIU, BDCIW

Sponsor

—

S-4 / F-4 filer

SPAC (typical)

Fiscal year

December 31

Next filing

10-Q 2026-11-14

Vote

—

Schedule

What is due next

Fiscal year: Ends December 31 · 10-K cover
This window: 10-Q due 2026-08-14 · filed
Next due: 10-Q 2026-11-14Period 2026-09-30
Pulse: +6

10-Q for period ended 2026-06-30, due 2026-08-14. 10-Q 2026-08-10 on time (+6).

On time with this window. Pulse stays even with the other new listings that filed.

Meetings

No shareholder meeting dated in the Q&A or calendar.

Price history

Delayed exchange prints — common, rights, units, warrants when listed. Last price is in the header. This tape does not move Pulse.

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S-4 amendment timeline

Shrinking gaps mean the deal is progressing. The tag says whether that filing cleared a checklist, dropped a hurdle, or repriced the deal.

Deal book
On file
No S-4 / F-4 on file. Still a search.
10-Q / 10-K
On file
10-Q for period ended 2026-06-30, due 2026-08-14. 10-Q 2026-08-10 on time (+6).