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Translational Development Acquisition Corp. disclosed that its sponsor agreed to loan the Company up to $2,000,000 for working capital. The loan is evidenced by a promissory note that is non-interest bearing and is repayable on the earlier of (i) the date by which the Company must complete a qualifying business combination under its Amended and Restated Memorandum of Association and (ii) the effective date of a business combination (the Maturity Date). The note’s issuance was made pursuant to an exemption under Section 4(a)(2) of the Securities Act of 1933. The filing includes Exhibits, including the promissory note (Exhibit 10.1) signed by Michael B. Hoffman as CEO.
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