NEW
YORK, Dec. 24, 2024 /PRNewswire/ --
Translational Development Acquisition Corp. (the "Company")
announced today the closing of its initial public offering of
17,250,000 units, which includes 2,250,000 units issued pursuant to
the exercise by the underwriters of their over-allotment option in
full. The offering was priced at $10.00 per unit, resulting in gross proceeds of
$172,500,000.
The Company's units began trading on December 23, 2024 on the Nasdaq Global Market
("Nasdaq") under the ticker symbol "TDACU." Each unit consists of
one Class A ordinary share and one-half of one redeemable warrant,
with each whole warrant entitling the holder thereof to purchase
one Class A ordinary share at a price of $11.50 per share. No fractional warrants will be
issued upon separation of the units and only whole warrants will
trade. Once the securities constituting the units begin separate
trading, the Class A ordinary shares and warrants are expected to
be listed on Nasdaq under the symbols "TDAC" and "TDACW,"
respectively.
The Company is a blank check company incorporated for the
purpose of effecting a merger, amalgamation, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. The Company may pursue an
acquisition opportunity in any business, industry, sector, or
geographical location, and intends to focus on industries that
complement its management team's background, and intends to
capitalize on the ability of its management team to identify and
acquire a business.
The Company's management team is led by Michael B. Hoffman, its Chief Executive Officer
and Chairman of the Board of Directors of the Company (the
"Board"), and Avanindra C. Das,
Chief Financial Officer. In addition, the Board includes E.
Premkumar Reddy, Curtis T. Keith, Matthew
A. Kestenbaum and Christopher
Jarratt.
BTIG, LLC acted as sole book-running manager for the
offering.
The offering was made only by means of a prospectus, copies of
which may be obtained from: BTIG, LLC, 65 East 55th Street
New York, New York 10022, Attn:
Syndicate Department, BTIGSyndicateCoverage@btig.com.
A registration statement relating to the securities was declared
effective by the U.S. Securities and Exchange Commission (the
"SEC") on December 20, 2024. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements," including with respect to the
anticipated use of the net proceeds of the offering and the
Company's search for an initial business combination. No assurance
can be given that the net proceeds of the offering will be used as
indicated. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company's registration statement and prospectus for the Company's
offering filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Investor Contacts
Translational Development Acquisition Corp.
Avanindra C. Das, Chief Financial
Officer
avi@translational-development.com
View original
content:https://www.prnewswire.com/news-releases/translational-development-acquisition-corp-announces-closing-of-172-5-million-initial-public-offering-including-full-exercise-of-underwriters-over-allotment-option-302338950.html
SOURCE Translational Development Acquisition Corp.
