Here are the 10-Q quarterly reports from Translational Development Acquisition Corp. (TDAC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TDAC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TDAC filings page.
Translational Development Acquisition Corp. is a SPAC that has not yet begun operating activities and is focused on completing its first business combination. As of June 30, 2026, assets totaled $157.4 million, largely in a trust account invested in money market funds, with cash outside the trust of $85,877 and a working capital deficit.
For the six months ended June 30, 2026, the company reported net income of $2.3 million, driven by $3.3 million of dividends on trust investments, partially offset by $0.9 million of general and administrative costs. During June 2026, holders redeemed 2,598,697 Class A shares for $27.8 million, reducing trust assets.
The SPAC entered into a Business Combination Agreement with ProLogium Holding Inc. and a related $50 million subscription for 5,000,000 Class A shares plus an equal number of warrants, both contingent on closing the transaction. The combination deadline was extended to June 24, 2027, but management discloses substantial doubt about the ability to continue as a going concern if no deal is completed by that date.
Translational Development Acquisition Corp. reported net income of $1,332,797 for the quarter ended March 31, 2026, driven by $1,613,958 of dividends on trust investments and offset by $281,161 of general and administrative costs. Cash outside the trust was very limited at $24,630, with marketable securities in the trust account totaling $183,271,269.
As of March 31, 2026, the company had a working capital deficit of $785,769 and relies on a non‑interest‑bearing promissory note from its sponsor of up to $2,000,000, of which $500,000 was outstanding. Management discloses substantial doubt about the company’s ability to continue as a going concern because it must complete a business combination by June 24, 2026 or liquidate.
The structure remains typical for a SPAC, with 17,250,000 Class A ordinary shares classified as redeemable at approximately $10.62 per share and 4,657,500 Class B founder shares outstanding. Management also concluded that disclosure controls and procedures were not effective due to an omission of the internal control report in the prior annual filing.