Wolverine Asset Management (TDAC) reports 4.89% stake in Class A shares

Rhea-AI Filing Summary

Wolverine Asset Management, LLC, Wolverine Holdings, LLC, and managers Christopher L. Gust and Robert R. Bellick report beneficial ownership of 944,878 Translational Development Acquisition Corp. Class A Ordinary Shares. Each reporting person has shared voting and dispositive power over these shares, with no sole voting or dispositive authority.

The disclosure states this represents 4.89% of the outstanding Class A Ordinary Shares. The percentage is based on 19,308,802 shares outstanding, derived from 21,907,499 shares outstanding as of June 12, 2026, minus 2,598,697 shares redeemed at the June 17, 2026 shareholders' meeting. The reporting persons indicate they own 5 percent or less of this class.

Key Figures

Shares beneficially owned: 944,878 Class A Ordinary Shares Percent of class: 4.89% Shares outstanding used for calculation: 19,308,802 shares +2 more

5 metrics

Shares beneficially owned 944,878 Class A Ordinary Shares Beneficial ownership reported by Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust, and Robert R. Bellick

Percent of class 4.89% Portion of Translational Development Acquisition Corp. outstanding Class A Ordinary Shares beneficially owned by each reporting person

Shares outstanding used for calculation 19,308,802 shares Denominator used to compute the 4.89% ownership stake

Shares outstanding as of June 12, 2026 21,907,499 shares Outstanding TDAC Class A Ordinary Shares before redemptions referenced in the ownership calculation

Shares redeemed June 17, 2026 2,598,697 shares Shares redeemed at the June 17, 2026 shareholders' meeting, as referenced in the ownership calculation

Key Terms

beneficial owner, shared power to vote, dispositive power, Class A Ordinary Shares

4 terms

beneficial owner financial

"WAM may be deemed the beneficial owner of 4.89% of the Issuer's outstanding Class A Ordinary Shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared power to vote financial

"WAM has shared power to vote or direct the vote of 944,878 of the Issuer's Class A ordinary shares"

dispositive power financial

"WAM has shared power to dispose, or direct the disposition, of 944,878 of the Issuer's Class A ordinary shares"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Class A Ordinary Shares financial

"Title of class of securities: Class A Ordinary Shares, par value $0.0001 per share"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What stake in TDAC does Wolverine Asset Management report in this Schedule 13G/A?

Wolverine Asset Management and related reporting persons state they beneficially own 944,878 TDAC Class A Ordinary Shares, representing 4.89% of the outstanding Class A Ordinary Shares based on the share count used in their calculation.

How is the 4.89% ownership of TDAC (symbol TDAC) calculated?

The 4.89% figure is calculated by dividing 944,878 shares by 19,308,802 outstanding shares, which reflects 21,907,499 shares outstanding as of June 12, 2026, minus 2,598,697 shares redeemed on June 17, 2026.

Who are the reporting persons in TDAC’s Schedule 13G/A Amendment No. 3?

The reporting persons are Wolverine Asset Management, LLC, Wolverine Holdings, LLC, and individuals Christopher L. Gust and Robert R. Bellick, who may be deemed to control or share voting and dispositive power over the reported TDAC shares.

What voting and dispositive powers do the Wolverine entities have over TDAC shares?

Wolverine Asset Management, Wolverine Holdings, Christopher L. Gust, and Robert R. Bellick report 0 shares with sole voting or dispositive power and 944,878 TDAC Class A Ordinary Shares with shared voting and shared dispositive power among them.

Does the Wolverine group own more or less than 5% of TDAC’s Class A shares?

The reporting persons state they are beneficial owners of 4.89% of TDAC’s outstanding Class A Ordinary Shares and confirm ownership of 5 percent or less of this class, placing them below the traditional 5% threshold.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Translational Development Acquisition Corp.

(Name of Issuer)

Class A Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

G9008W105

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G9008W105

1

Names of Reporting Persons

Wolverine Asset Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 944,878.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 944,878.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

944,878.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.89 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): G9008W105

1

Names of Reporting Persons

Wolverine Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 944,878.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 944,878.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

944,878.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.89 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP Number(s): G9008W105

1

Names of Reporting Persons

Christopher L. Gust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 944,878.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 944,878.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

944,878.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.89 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): G9008W105

1

Names of Reporting Persons

Robert R. Bellick

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 944,878.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 944,878.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

944,878.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.89 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Translational Development Acquisition Corp.
(b)	Address of issuer's principal executive offices: 52 E. 83rd Street, New York, NY 10028
Item 2.
(a)	Name of person filing: Wolverine Asset Management, LLC Wolverine Holdings, LLC Christopher L. Gust Robert R. Bellick
(b)	Address or principal business office or, if none, residence: c/o Wolverine Asset Management, LLC 175 West Jackson Boulevard, Suite 340 Chicago, IL 60604
(c)	Citizenship: Wolverine Asset Management, LLC - Illinois Wolverine Holdings, LLC - Delaware Christopher L. Gust - U.S. Citizen Robert R. Bellick - U.S. Citizen
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.0001 per share
(e)	CUSIP No.: G9008W105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Wolverine Asset Management, LLC ("WAM") is an investment adviser and has voting and dispositive power over 944,878 of the Issuer's Class A ordinary shares. The sole member and manager of WAM is Wolverine Holdings, LLC ("Wolverine Holdings"). Robert R. Bellick and Christopher L. Gust, may be deemed to control Wolverine Holdings in their roles as Managers of Wolverine Holdings. Each of Wolverine Holdings, Mr. Bellick, and Mr. Gust have voting and dispositive power over 944,878 of the Issuer's Class A ordinary shares.
(b)	Percent of class: WAM may be deemed the beneficial owner of 4.89% of the Issuer's outstanding Class A Ordinary Shares and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust may be deemed the beneficial owner of 4.89% of the Issuer's outstanding Class A Ordinary Shares. Percentages were calculated by dividing the number of shares deemed beneficially owned by each reporting person by 19,308,802 (21,907,499 - the number of shares outstanding as of June 12, 2026 according to the Issuer's 8-K filed June 12, 2026, minus 2,598,697 - the number of shares redeemed at the Issuer's June 17, 2026 shareholders' meeting according to the Issuer's 8-K filed June 18, 2026).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: WAM has shared power to vote or direct the vote of 944,878 of the Issuer's Class A ordinary shares, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to vote or direct the vote of 944,878 of the Issuer's Class A ordinary shares, in each case as set forth in Item4(a) above.
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: WAM has shared power to dispose, or direct the disposition, of 944,878 of the Issuer's Class A ordinary shares, and each of Wolverine Holdings, Mr. Bellick, and Mr. Gust has shared power to dispose, or direct the disposition, of 944,878 of the Issuer's Class A ordinary shares, in each case as set forth in Item4(a) above.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Wolverine Asset Management, LLC

Signature:	/s/ Kenneth L. Nadel
Name/Title:	Kenneth L. Nadel, Chief Operating Officer
Date:	07/14/2026

Wolverine Holdings, LLC

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust, Manager
Date:	07/14/2026

Christopher L. Gust

Signature:	/s/ Christopher L. Gust
Name/Title:	Christopher L. Gust
Date:	07/14/2026

Robert R. Bellick

Signature:	/s/ Robert R. Bellick
Name/Title:	Robert R. Bellick
Date:	07/14/2026