Translational Development Acquisition Corp. Announces the Pricing of $150,000,000 Initial Public Offering

Rhea-AI Summary

Translational Development Acquisition Corp has announced the pricing of its initial public offering of 15,000,000 units at $10.00 per unit, totaling $150,000,000. The units will trade on Nasdaq under symbol TDACU. Each unit comprises one Class A ordinary share and one-half redeemable warrant, with whole warrants allowing purchase of one Class A share at $11.50.

The company has granted underwriters a 45-day option to purchase up to 2,250,000 additional units. Trading begins December 23, 2024, with closing expected December 24, 2024. The company is a blank check company seeking business combination opportunities, led by CEO Michael B. Hoffman and CFO Avanindra C. Das, with BTIG, as sole book-running manager.

Positive

• IPO raises substantial capital of $150 million
• Listing on major exchange (Nasdaq)
• Additional potential capital of $22.5 million through over-allotment option
• Experienced management team with industry background

Negative

• Blank check company with no current operating business
• No specific target business identified yet
• Warrant dilution potential at $11.50 exercise price

News Market Reaction

-45.72%

1 alert

-45.72% News Effect

On the day this news was published, TDACU declined 45.72%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Dec. 23, 2024 /PRNewswire/ -- Translational Development Acquisition Corp. (the "Company") announced today the pricing of its initial public offering of 15,000,000 units at a price of $10.00 per unit. The units are expected to be listed on The Nasdaq Stock Market LLC ("Nasdaq") and begin trading today, December 23, 2024, 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, subject to certain adjustments. 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 offering is expected to close on December 24, 2024, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any.

The Company is a blank check company formed 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 is acting as sole book-running manager for the offering.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at ProspectusDelivery@btig.com or by accessing the SEC's website, www.sec.gov.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective 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 an 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 proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds 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 initial public offering filed with the SEC. Copies of these documents 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-the-pricing-of-150-000-000-initial-public-offering-302338427.html

SOURCE Translational Development Acquisition Corp.

FAQ

What is the IPO price and size of Translational Development Acquisition Corp (TDACU)?

The IPO consists of 15,000,000 units priced at $10.00 per unit, totaling $150,000,000.

When does TDACU begin trading on Nasdaq?

TDACU begins trading on Nasdaq on December 23, 2024.

What does each TDACU unit consist of?

Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant allowing purchase of one Class A share at $11.50.

What is the over-allotment option for TDACU's IPO?

Underwriters have a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price.

What will be the separate trading symbols for TDACU components?

Once securities begin separate trading, Class A shares will trade as 'TDAC' and warrants as 'TDACW' on Nasdaq.