#United States #New York #NASDAQ #IPO #Translational Development

Translational Development Acquisition Corp. Concludes $172.5 Million IPO

Translational Development Acquisition Corp. (TDAC) has officially closed its initial public offering (IPO), having priced the offering at $10.00 per unit, culminating in a total gross proceeds of $172,500,000. The IPO included a significant addition of 2,250,000 units, which were allotted as part of the underwriters’ over-allotment option being fully exercised. This strategic move emphasizes the robust interest and confidence in the company’s future potential.

Trading for the company’s units commenced on December 23, 2024, on the Nasdaq Global Market under the ticker symbol TDACU. Each unit comprises one Class A ordinary share and one-half of one redeemable warrant. Notably, these warrants will allow holders the opportunity to obtain an additional Class A ordinary share at an exercise price of $11.50 each when they separate from the units. The individual components of the units, namely the Class A ordinary shares and warrants, are expected to be listed under the symbols TDAC and TDACW, respectively, once they commence separate trading.

As a blank check company, Translational Development Acquisition Corp. was established with the aim to engage in merger-related activities—amalgamations, share exchanges, asset acquisitions, or any similar business combinations. The firm aims to focus on acquisition opportunities aligned with the expertise of its seasoned management team led by Michael B. Hoffman, CEO and Board Chairman, alongside Avanindra C. Das, the Chief Financial Officer. The board also includes notable figures such as E. Premkumar Reddy, Curtis T. Keith, Matthew A. Kestenbaum, and Christopher Jarratt.

The offerings were facilitated by BTIG, LLC, who served as the sole book-running manager for the transaction. Investors looking for further details can request a prospectus from BTIG, which is located at 65 East 55th Street, New York, NY.

The registration statement concerning the public offering from TDAC received the green light from the U.S. Securities and Exchange Commission on December 20, 2024. However, it is essential to note that this press release does not constitute an offer to sell or a solicitation to buy these securities in any state where such offers would be deemed unlawful prior to appropriate regulation.

Forward-Looking Statements

Included in this development are several forward-looking statements regarding the anticipated utilization of the IPO’s net proceeds and the company’s endeavor to scout for an initial business combination. However, success in these areas cannot be guaranteed, as numerous conditions may influence the outcomes and some may exceed the firm’s control. Stakeholders and interested parties are encouraged to review the detailed risk factors specified within the company’s registration statement and the prospectus available on the SEC's official website.

For inquiries, investors can contact Avanindra C. Das, the Chief Financial Officer, at [email protected] to explore the investment opportunities presented by Translational Development Acquisition Corp. This IPO marks a significant milestone for TDAC as it aims to navigate the business landscape and leverage its management expertise to identify lucrative acquisition possibilities.

As the market welcomes TDAC, participants are eager to see how the Company's positioning and strategic decisions will play out in the competitive business terrain ahead.